empty
 
 
24.07.2019 12:05 PM
EUR/USD to fall even lower

This image is no longer relevant

The price hasn't fixated yet above +1/8 Murrey Math Level, that's why bears are pushing the pair lower and lower. The Super Trend indicator's Line has formed a bearish cross, and for now acting as resistance. This morning, after another pullback from the 1-hour Super Trend Line we've got a new local low. There's no any bullish sign so far.

In this case, if the price trades firmly below 5/8 Murrey Math Level, there'll be a green light for the bearish rally to continue. The nearest target is 3/8 MM level at 1.1077, which could act as support. However, we also should watch 4/8 MM Level at 1.1108 because of the possibility to have a local upward correction from it.

Besides, if the market goes through 3/8 MM Level, there'll be a moment to develop a steeper decline. If this happens, the pair will try to test 2/8 Level or drop even deeper. The Super Trend Lines are an essential barometer for the bearish scenario. If the price breaks these lines, there'll be an option to have a large upward correction.

The bottom line is that EUR/USD is still in a bearish mood. The next target is 3/8 MM Level, which could stop the rally, for a while at least.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback