Long-term review
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.
Overview:
- On the one-hour chart, the EUR/USD pair continues moving in a bearish trend from the resistance level of 1.1444. Currently, the price is in a bearish channel. This is confirmed by the RSI indicator signaling that we are still in a bearish trending market. The bias remains bearish in the nearest term testing 1.1319 and 1.1281. Immediate resistance is seen around 1.1374 levels, which coincides with the weekly pivot. Moreover, the moving average (100) starts signaling a downward trend; therefore, the market is indicating a bearish opportunity below 1.1374. So it will be good to sell at 1.1374 with the first target of 1.1319. It will also call for a downtrend in order to continue towards 1.1281. The strong weekly support is seen at 1.1281. On the other hand, if a breakout happens at the resistance level of 1.1444, then this scenario may be invalidated.
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.
Stay 
