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EUR/USD despite the initial rejection at the 38% Fibonacci retracement, made a higher low and is now making a higher high. Medium- and longer-term trend remain bearish as price remains inside a bearish channel and below 1.15.
Blue dots - medium strength support
Dark blue dots - maximum strength support
The anticipated bounce from 1.1250 has come according to our plan. Now we see that the more probable scenario is for EUR/USD to top around the 61.8% Fibonacci retracement at 1.1390 area and reverse for new lows. As long as we trade below 1.15 we remain medium-term bearish looking for a move below 1.10. Short-term support is at 1.1260 and resistance at 1.1390.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
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