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Forex Analysis & Reviews: EUR/USD exhausts buyers
time 12.08.2022 07:43 PM
time Relevance up to, 13.08.2022 07:43 PM

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EUR/USD Retesting The Sellers!

The EUR/USD pair was trading at 1.0265 at the time of writing above the 1.0243 today's low. Now, it challenges the 1.0265 historical level (former high) which represents an upside obstacle (resistance).

As you can see on the H1 chart, the rate failed to stabilize above the previous high of 1.0355 signaling exhausted buyers. Dropping below 1.0287 and 1.0265 downside obstacles (former highs) signaled a larger downside movement.

EUR/USD Forecast!

Dropping below 1.0243 today's low could activate more declines and could bring selling opportunities.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2022
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