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24.09.202114:26 Forex Analyse & Reviews: Technical analysis on EURUSD

EURUSD remains inside the bearish channel. In our last analysis we warned the importance of resistance at the 1.1750 area. Price got rejected twice thus far at 1.1750 and yesterday was the third rejection. Also at this level we find the upper channel boundary.

Exchange Rates 24.09.2021 analysis

Green rectangle- horizontal resistance

Black lines- bearish channel

EURUSD got rejected at the resistance and is moving lower. This price action confirms the importance of the resistance area at 1.1750. In case we see a push above this level, the bullish signal will have increased importance because this resistance was tested several times. As long as price is inside the bearish channel we remain bearish looking for new lows.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaForex
© 2007-2021
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