07.10.201917:23 Forex Analysis & Reviews: EUR/USD for October 10,2019 - Buyers in control, more potential upside incoming

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 upwards. The price is testing important resistance at 1.1000 (round number). The potential upside breakout of 1.1000 may lead us towards 1.1020 and 1.1070. The short-term trend is still upside.

Red rectangle – Important resistance levels

Rising purple line – Expected path

I found strong rejection of the rising trend line in the background, which is sign that buyers are still in control. I do see potential test of 1.1020 and 1.1070. In the background there is the breakout of the falling wedge pattern, which is another sign that buyers are in control. Watch for buying opportunities.

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.