EURUSD remains in a bearish trend. Price today broke below 1.20 and is approaching our first pull back target of 1.19-1.1870. Price has broken key trend line support and with the RSI far from oversold levels, we expect this pair to remain under pressure.
Red line – support (broken)
EURUSD continues making lower lows and lower highs. Clearly trend is bearish and betting against it should be avoided. The 38% Fibonacci retracement level remains our 1st target for the pull back. There is no sign of a bullish reversal or an indication of a short-term bottom. That is why I consider every bounce as a selling opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.