19.07.201811:39 Forex Analysis & Reviews: Technical analysis of EUR/USD for July 19, 2018

Long-term review

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This resistance has been rejected several times confirming the veracity of a downtrend. Additionally, the RSI starts signaling a downward trend. As a result, if the EUR/USD pair is able to break out the first support at 1.1694, the market will decline further to 1.1623 in order to test the weekly support 2. Consequently, the market is likely to show signs of a bearish trend. So, it will be good to sell below the level of 1.1752 with the first target at 1.1663 and further to 1.1566. However, a stop loss is to be placed above the level of 1.1810 (golden ratio).

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