Overview :

  • The EUR/USD pair will continue to rise from the level of 1.1761. The support is found at the level of 1.1761, which represents the 23.6% Fibonacci retracement level in the H1 time frame.
  • The price is likely to form a double bottom. Today, the major support is seen at 1.1761, while immediate resistance is seen at 1.1825.
  • Accordingly, the EUR/USD pair is showing signs of strength following a breakout of a high at 1.1800.
  • So, buy above the level of 1.1800 with the first target at 1.1825 in order to test the daily resistance 1 and move further to 1.0027.
  • Also, the level of 1.1854 is a good place to take profit because it will form a new double top. The the level of 1.1854, which represents the 61.8%
  • Amid the previous events, the pair is still in an uptrend; for that we expect the EUR/USD pair to climb from 1.1761 to 1.1854 today.
  • However, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.1761, a further decline to 1.1703 can occur, which would indicate a bearish market.

The material has been provided by InstaForex Company –

Leave your vote

🚀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.