FX.co - EURUSD remains in bearish trend but could see 1.0950 if support at 1.1050 fails to hold

2019-08-28T12:27:43

Relevance until2019-08-30

EURUSD remains in bearish trend but could see 1.0950 if support at 1.1050 fails to hold

EURUSD remains below key resistance levels and continues to make lower lows and lower highs. Trend remains bearish despite the warning bullish divergence signs from RSI. No reversal signal yet.

EURUSD remains in bearish trend but could see 1.0950 if support at 1.1050 fails to hold

Blue line - major resistance trend line

Green rectangle - support area

Red rectangle - target are if support area fails to hold price

EURUSD is trading right above the green support area at 1.1050-1.1075. Breaking below this level will push price towards 1.0950-1.0970. Trend in the short-term is bearish as long as price is below 1.1150 (recent local high) and 1.1175 (blue downward sloping trend line resistance). Only a break above this area will change trend to neutral. Recapturing 1.12-1.1250 will turn trend to bullish.

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

#Technical analysis #EUR #USD #EURUSD

Analytical expert

Alexandros Yfantis

InstaFintech Group @ 2007-2025

FX.co ★ EURUSD remains in bearish trend but could see 1.0950 if support at 1.1050 fails to hold

Forex Analysis

EURUSD remains in bearish trend but could see 1.0950 if support at 1.1050 fails to hold