Technical
analysis:
EUR/USD
has been trading downside
this morning and I found breakout of the rising trend-line in the
background, which is good sign for further downside movement.
Trading
recommendation:
Due
to the the
breakout of the rising trend-line in the background and the short-term
downside trend, I see potential for further drop towards lower
reference points.
Watch
for the potential selling
opportunities on the intraday rallies with the downside objectives at
the price of 0.9705, 0.9640 and 0.9535.
MACD
oscillator is showing fresh downside
momentum, which is strong sign that sellers
are in control.
Short-term
resistance is set at the price of 0.9970
The material has been provided by InstaForex Company – www.instaforex.com
