empty
 
 
31.05.2021 09:19 AM
EUR/USD False Breakdown?

EUR/USD is trading in the red at the 1.2184 level as the US Dollar Index tries to increase again. It remains to see what will really happen as the rate continues to pressure the immediate uptrend line.

Staying under 1.22 and stabilizing below the uptrend line could signal a deeper decline. On the other hand, registering a new higher high after Friday's engulfing, pin bar, could announce further growth.

The US is to release high-impact data during the week. The NFP, Average Hourly Earnings, Unemployment Rate, ISM Services PMI, Unemployment Claims, ADP Non-Farm Employment Claims, and the ISM Manufacturing PMI could change the sentiment.

EUR/USD Under Massive Pressure!

This image is no longer relevant

EUR/USD erased its temporary losses and now is trading back above the uptrend line. Jumping and stabilizing above the weekly pivot point (1.2197) level could signal potential growth.

Registering a new higher high, closing above the 1.2214 level is seen as a potential buying opportunity. Its failure to reach the weekly S1 (1.2127) or to close near Friday's low of 1.2132 could signal a bullish movement towards the R1 (1.2261).

EUR/USD Forecast!

A bullish closure above 1.2214 high on the H4 chart may announce a potential growth towards the R1 (1.2261).

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ralph Shedler
Start trade
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback