See also
EURUSD dropped to 1.0110 on Tuesday before finding support. The single currency pair is seen to be trading close to 1.0150 at this point in writing and is expected to print yet another low at around the 1.0075-1.0100 zone before resuming higher again. Bulls might be poised to hold prices above the 0.9952 interim lows to keep the near-term structure constructive.
EURUSD aims to produce a larger-degree corrective rally towards the 1.0800-1.0900 zone, after carving a potential low at around 0.9952 on July 14. The potential medium-term target for the counter-trend rally to push through is the 1.0800-1.0900 area, which is also the Fibonacci 0.382 retracement of the earlier downswing between 1.2350 and 0.9952.
EURUSD has been in a downtrend since January 2021, carving lower lows and lower highs between 1.2350 and 0.9952. As discussed earlier, the drop is either complete or is close to completion towards 0.9500. Either way, a bullish reversal remains highly probable from the current levels (1.0100-50), reaching up to the 1.0800-1.0900 zone.
EURUSD has further carved a lower-degree upswing between 0.9952 and 1.0275 in the past few trading sessions. Prices are retracing at the moment and could find support at around 1.0075, which is the Fibonacci 0.618 level. A high probability remains for bulls to come back in control and push prices through 1.0800 at least in the next few weeks.
Potential rally through 1.0800-1.0900 against 0.9952.
Good luck!
You have already liked this post today
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Thursday Trade Review: 1H Chart of EUR/USD On Thursday, the EUR/USD currency pair maintained its bullish bias within a sideways movement that's been underway for about two weeks. This
On Thursday, the GBP/USD currency pair also traded higher, but with minimal volatility. During the past day, only one US report was published: the second estimate
The EUR/USD currency pair continued its upward movement on Thursday, which had started on Wednesday evening. At this point, it's not possible to say for certain that the flat phase
Wednesday Trade Review: 1H Chart of GBP/USD On Wednesday, the GBP/USD pair exhibited movement similar to that of the EUR/USD pair—first an unfounded drop, then a more logical rise. Recall
Wednesday Trade Review: 1H Chart of EUR/USD On Wednesday, the EUR/USD currency pair exhibited a particularly interesting trading pattern. Even though there was practically no macroeconomic news during
On Wednesday, the GBP/USD currency pair traded very technically, unlike EUR/USD. There were no significant reports yesterday in either the UK or the US; however, Donald Trump raised tariffs
On Wednesday, the EUR/USD currency pair made moves that did not align with the technical, fundamental, or macroeconomic picture at all. To begin with, there were no macroeconomic reports during
Tuesday Trade Review: 1H Chart of GBP/USD On Tuesday, GBP/USD also traded lifelessly. During the day, we observed minimal gains for the British pound, which could theoretically have been related
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.