The price of the EUR/USD currency pair has reached the highest level since 2018, reaching almost 1,2000. After that the correction has appeared which may look like an ABC simple correction or as a head and shoulders pattern.
The potential key level is set at 1,1700 where the previous support has been located. If it is broken the way to 1,1500 could be open. It seems that only a significant move above 1,1800 may change the short-term view from bearish to bullish.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The potential key level is set at 1,1700 where the previous support has been located. If it is broken the way to 1,1500 could be open. It seems that only a significant move above 1,1800 may change the short-term view from bearish to bullish.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.