empty
 
 
sp
Soporte
Apertura instantánea de la cuenta
Plataforma comercial
Depositar/Retirar

29.05.202315:30 Forex Analysis & Reviews: EUR/USD: downside continuation pattern

The EUR/USD pair dropped again and now is trading at 1.0713 at the time of writing. It moves somehow sideways in the short term, that's why we have to wait for fresh trading opportunities.

The bias remains bearish as the USD received a helping hand from the US data on Friday, Core PCE Price Index, Durable Goods Orders, Personal Spending, Prelim Wholesale Inventories, and Revised UoM Consumer Sentiment came in better than expected.

The bias remains bearish in the short term, but it remains to see how it reacts tomorrow after the US CB Consumer Confidence which is expected to drop from 101.3 to 99.1 points. Poor US data could weaken the greenback.

EUR/USD Under Strong Downside Pressure!

Exchange Rates 29.05.2023 analysis

Technically, the EUR/USD pair failed to retest 1.0748 and now it has turned to the downside again. The bias is bearish, so more declines are in the cards. Still, we need confirmation before taking action.

Failing to stay below the lower median line (ml) announced exhausted sellers in the short term. Still, the currency pair could drop deeper as long as it stays below 1.0748 and under the weekly pivot point of 1.0750.

EUR/USD Outlook!

A valid breakdown below 1.0707 and through the median line (ml) activates more declines. This represents a new selling opportunity.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Ralph Shedler,
Analytical expert of InstaSpot
© 2007-2024
Benefíciese de las recomendaciones de los analistas ahora mismo
Recargue su cuenta de operaciones
Abra una cuenta de operaciones

¡Los informes analíticos de InstaSpot lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaSpot, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.