16.10.201921:19 Forex Analysis & Reviews: EURUSD short-term trend remains bullish

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.

EURUSD bounced off the critical support of 1.10 we mentioned yesterday and continues higher following our bullish scenario. Trend remains bullish in the short-term as long as price is above 1.10 as we also mentioned yesterday.

EURUSD held above the tenkan-a and the kijun-sen yesterday. We have a weak bullish signal as the tenkan-sen is crossing above the kijun-sen. Daily trend is neutral as price has entered the Kumo. Support is at 1.10 and resistance at 1.1120-1.1140. As we mentioned yesterday, as long as price is above 1.10, we remain optimistic expecting 1.1130 to be reached.

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.