empty
 
 
22.07.2021 09:17 AM
EUR/USD Continuation Or Reversal?

This image is no longer relevant

EUR/USD increased and now is almost to reach the downtrend line. Passing above it could signal that the downside movement is over and that the pair could register an important growth.

It remains to see how it will react after reaching the downtrend line. You can see that the downtrend line acts as dynamic resistance, it has rejected the price. Technically, a larger decline will be confirmed by a potential drop below 1.1765 static support, former low.

Forecast!

Jumping above the downtrend line could signal a potential growth towards the 1.1877 high. A larger growth could be signaled by a breakout above this level.

You can sell EUR/USD if the price drops below 1.1765 and under the 1.1750 psychological level. 1.1700 level is seen as a potential downside target.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $8000 more!
    In March we raffle $8000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback