empty
 
 
26.10.2020 02:25 PM
October 26, 2020 : EUR/USD daily technical review and trade recommendations.

This image is no longer relevant

On September 25, The EURUSD pair has failed to maintain enough bearish momentum to enhance further bearish decline.

Instead, recent ascending movement has been demonstrates within the depicted movement channel leading to bullish advancement towards 1.1750-1.1780 which failed to offer sufficient bearish pressure in the first attempt.

Two weeks ago, temporary breakout above 1.1750 was demonstrated as an indicator for a possible bullish continuation towards 1.1880. However, temporary downside pressure pushed the EUR/USD pair towards 1.1700. This is where the previous bullish spike was initiated.

Currently, the price zone around 1.1880-1.1900 constitutes a KEY Price-Zone as it corresponds to the backside of the depicted broken ascending channel.

Recent Upside breakout above 1.1780 enabled further advancement towards the price levels around 1.1880-1.1900 where significant bearish pressure and a reversal Head & Shoulders pattern were demonstrated.

Trade Recommendations :-

Recently, Two opportunities for valid SELL Entries were offered upon the recent upside movement towards 1.1880-1.1900.

Initial Bearish target remains projected towards 1.1780 while Exit level should be placed around 1.1870 to offset the associated risk

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 $1000 more!
    In April we raffle $1000 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