Stay 
Trading Conditions
Products
Tools
EURUSD is trading around 1.1890-1.19 after getting rejected at the 38% Fibonacci retracement. EURUSD has support at 1.1850 and resistance at recent highs of 1.1975.
If EURUSD bulls manage to recapture the 1.1975 level, then I would expect price to move higher towards the 61.8% Fibonacci retracement and the 1.2030 level. Support is at 1.1850 and a break below it will increase the chances of activating the bearish Head and shoulders pattern we talked about before.
Red line -neck line support
For the above bearish pattern to get activated, price must break below the neckline support at 1.1750. For this pattern to get cancelled bulls must break above the right hand shoulder high. This would be a bullish signal and would give us a target above 1.26.
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.
We may place cookies for analysis of our visitor data, to improve our website and measure advertising performance. Overall this data is used to provide a better website experience. More information
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.
