10.09.201918:23 Forex Analysis & Reviews: EUR/USD for September 10,2019 - Potential test of the upper diagonal

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD has been trading sideways at the price of 1.1047. There is still upside pressure from the background and potential test of the upper diagonal of the downward channel. Watch for potential re-test of the 1.1090.

Yellow rectangle – Resistance level

Green lines – Downward channel

Based on the 4H time-frame, I still see that there is chance for re-test of the 1.1090. Key support zone is at 1.1015 and resistance levels at 1.109. Bears need to be very cautious as there is strong support on the test and potential re-test of the upper line of the channel. As long as the EUR is holding above 1.1015 there is a chance for potential test of 1.1090 or higher.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.