Insight
Short

EURUSD: Resistance trend line confirms bearish Euro.

FX:EURUSD   Euro Fx/U.S. Dollar
336 1 8
The resistance trend line that goes through the recent swing highs since early July predicts that the price may reverse its direction at 1.1069. This is further supported by the fact that 1.106 also acts as the 0.618 Fibonacci retracement level. If the price does reverse its direction, I predict that it would bounce off the support level at 1.10833, and continue in an uptrend.

However, it is possible for the price to continue to rise in an uptrend. Therefore, a stop loss at the 0.500 Fibonacci retracement level would be most suitable.
Ika...Ika
a year ago
excellent outlook !!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out