Vea también
04.04.2023 07:38 AM
EURUSD traded on a seesaw in the past two trading sessions. Having initially dropped from 1.0926 to 1.0790, the instrument rallied back towards 1.0910 early on Tuesday. The single currency pair is seen to be trading close to 1.0890 at this point in writing as traders await a range breakout to decide the next major direction.
EURUSD needs to either break lower below 1.0710 or push higher above 1.0930 to confirm a breakout. With the larger-degree trend pointing lower, probabilities remain a bit higher for the bears to hold prices below 1.0930. The currency is in its final wave lower towards 1.0500 and down to 1.0200 against the 1.1035 high.
Immediate price support is now seen at 1.0712 and a break lower is needed to confirm that the bears are back in control. We can expect prices to then drag the price lower through 1.0500 and down to 1.0100 going forward. Also, note that 1.0100 is the Fibonacci 0.618 retracement of the earlier rally between 0.9535 and 1.1035 levels respectively. A high probability remains for a bullish bounce thereafter.
A potential bearish move against 1.1035
Good luck!
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 InstaFintech Group 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 InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
