Stay 
Trading Conditions
Products
Tools
EUR/USD changed little after reaching 1.1998 static support. Still, the pressure remains high as long as it stays under the immediate downtrend line. USDX's further decline should force the pair to drop towards new lows.
Today, the eurozone Final Services PMI, German Final Services PMI, and the US ADP Non-Farm Employment Change, ISM Services PMI, and the Final Services PMI could be decisive for EUR/USD's future development.
EUR/USD stands at 1.2017 level above 1.1998 critical static support. A valid breakdown below it may really signal a further decline in the short term. The pair has increased a little to test and retest the weekly pivot (1.2060) and now it could move lower.
Its failure to stabilize above the downtrend line and above the former uptrend line signaled that we may have a corrective phase in the short term.
The bias will be bearish as long as the rate stays below the immediate downtrend line.
Sell EUR/USD if the price drops and closes below the 1.1998 level. The next major downside target is seen at the major descending pitchfork's median line, around the R2 (1.1926).
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.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.
