empty
 
 
12.09.2022 03:06 PM
Short-term technical analysis on EURUSD for September 12th, 2022.

This image is no longer relevant

Red lines- bearish channel

Black lines- Fibonacci retracements

EURUSD has started the week exactly how it ended the previous one. Dollar weakness across the board and EURUSD making short-term higher highs and higher lows. Price has so far retraced the 61.8% of the decline from 1.0368. This Fibonacci retracement level is key resistance. Short-term trend might be changing to bullish, however price remains inside the medium-term bearish channel. Next resistance is at 1.0260. Breaking above this level will increase chances EURUSD moves higher towards 1.04.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $6000 more!
    In December we raffle $6000 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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback