empty
 
 
30.10.2020 08:49 AM
EUR/USD Deeper Drop Signaled

EUR/USD should develop a significant corrective phase after the recent developments. Is traded under 1.17 psychological level signaling more declines after retesting this broken downside obstacle.

The pair is expected to drop as the USDX approaches fresh new highs in the upcoming period. USDX's up reversal should force the greenback to dominate the currency market. The dovish ECB and better than expected US Advance GDP, Unemployment Claims, and the Advance GDP Price Index data has forced the pair to fall into the seller's territory.

Today, the economic calendar is filled with important US and eurozone data. EUR/USD could react aggressively in the upcoming hours.

EUR/USD On A Declining Path!

This image is no longer relevant

EUR/USD has escaped from the up channel, it has dropped as much as 1.1648 level, and now is retesting the 1.17 psychological level. A new lower low will confirm a deeper drop.

Its failure to stabilize above 1.18 signaled exhausted buyers. The bearish scenario could be invalidated only by a potential come back above 1.19. If EUR/USD continues to drop, the 1.1495 is seen as a potential downside target.

  • EUR/USD Trading Tips

Sell a bearish closure under 1.1648 and below the S2 (1.1636) level. Also, a false breakout with great separation above 1.17 or a bearish engulfing represents a selling signal. 1.1495 is seen as a short-term downside target.

A valid breakdown through this level suggests a broader corrective phase in the medium to the long term.

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $9000 lebih banyak!
    Pada Mei kami mengundi $9000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback