The EURUSD currency pair was trading in downtrend channels on the daily graph from middle of June, but yesterday it broke the resistance barrier of the channel, which is a signal for a bullish turn of the currency pair.
Technical indicators like MACD and RSI are confirming the bullish trend as well.
If this trend continues we might see the price of the instrument moving above par levels and heading towards 1.02 levels. In the opposite scenario the price might revert and try to test support levels of 0.985
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Technical indicators like MACD and RSI are confirming the bullish trend as well.
If this trend continues we might see the price of the instrument moving above par levels and heading towards 1.02 levels. In the opposite scenario the price might revert and try to test support levels of 0.985
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.