See also
EUR/USD dropped through the 1.0610 low last week before finding support. The single currency pair is seen to be trading close to 1.0950 at this point in writing as the bulls prepare to push higher soon. A break above 1.0800 will confirm that a meaningful low is in place around 1.0510 and that the bulls are back in control.
EUR/USD has been dropping since July 2023 after printing swing highs around 1.1275. The bears have been successful in taking out major support around the 1.0630-40 area as the price hit our projected target. Furthermore, the Fibonacci 0.382 retracement of the entire rally between 0.9535 and 1.1275 has been completed. A high probability remains for a pullback rally to resume from here soon.
EUR/USD could be well poised to push through .0950 and up to 1.1000 in the next few weeks. Also, note that 1.0950 is the Fibonacci 0.50 retracement of the above downswing while 1.1000 is close to the 0.618 retracement. Once complete, we could witness another round of sell-offs towards 1.0200.
A potential counter-trend rally is to resume towards 1.0980 soon.
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: GBP/USD, 1H Chart On Thursday, the GBP/USD pair continued its downward movement, mirroring the EUR/USD pair. The behavior of these two major currency pairs was nearly identical
EUR/USD 5M Analysis On Thursday, the EUR/USD currency pair continued its sluggish decline, completely ignoring the fundamental backdrop. As a reminder, this week Donald Trump announced new tariffs targeting both
Wednesday Trade Analysis: GBP/USD – 1H Chart On Wednesday, the GBP/USD pair was also stuck in a flat movement, with very low volatility. There were virtually no price movements during
Wednesday Trade Analysis: EUR/USD – 1H Chart On Wednesday, the EUR/USD pair continued to trade in line with the prevailing trend from the previous week. Market activity was minimal throughout
On Wednesday, GBP/USD remained within its descending channel. However, a more interesting setup emerged in the 4-hour time frame, where the price attempted several times to break through the Senkou
On Wednesday, the EUR/USD pair continued moving within a weak downward channel, as previously forecast. However, volatility dropped to a minimum, there was no macroeconomic backdrop for the third consecutive
On Tuesday, the GBP/USD pair continued its moderate downward movement, which is clearly of a technical and corrective nature. On both Monday and Tuesday, there were no significant macroeconomic events
On Tuesday, the EUR/USD currency pair continued its mild downward movement in line with the prevailing trend. After a fairly strong upward move, the market began a correction. The nature
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.