empty
 
 
en
Support
Instant account opening
Trading Platform
Deposit/Withdraw

06.08.202115:18 Forex Analysis & Reviews: EURUSD below 1.18 challenges major support.

EURUSD is trading once again below 1.18 after reaching as high as 1.19. Our target of 1.1945 was not reached and price is now challenging the bullish scenario.

Exchange Rates 06.08.2021 analysis

Blue line- weekly support

EURUSD is approaching once again the weekly support trend line coming from 1.17. In previous posts we talked about the potential head and shoulders pattern that will be activated if price breaks below 1.1750. So as long as price is above 1.1750 bulls still have hopes. If the 1.1750 price level is broken we will get a bearish signal.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Alexandros Yfantis,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

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