আরও দেখুন
03.05.2023 07:57 AM
EURUSD rallied back towards 1.1030 in the early hours on Wednesday after dropping through 1.0950 earlier. The single currency pair is seen to be trading close to 1.1020 at this point in writing and is preparing to turn lower soon. The bears remain poised to hold prices below 1.1095 and drag lower to 1.0700 in the near term.
EURUSD is producing a larger-degree corrective wave towards 1.0500 and up to 1.0100 in the next few weeks. A break below 1.0700 will accelerate prices further towards potential targets. Earlier, the single currency pair had carved a meaningful upswing between 0.9535 and 1.1035 levels, which is now being retraced.
EURUSD has carved a lower-degree downswing on the 1-hour chart between 1.1095 and 1.0950 in the past two trading sessions. The currency pair is now retracing in the same way and resistance is expected to be strong around the 1.1040-45 zone. Watch out for a bearish reversal if prices did manage to reach there in the near term.
A potential drop against 1.1200
Good luck!
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.
