empty
 
 
21.01.2022 09:20 AM
EUR/USD Downside Continuation Pattern!

This image is no longer relevant

EUR/USD Near Demand Zone!

EUR/USD registered a strong downside movement after failing to stabilize above the upward channel's upside line. Now, it's trading at the 1.1329 level above the uptrend line. Technically, as long as it stays above the uptrend line, the EUR/USD could start raising again.

The upward channel pattern could represent a downside continuation pattern if the rate drops below the uptrend line.

EUR/USD Trading Conclusion!

Droping below the uptrend line and below the 1.1278 former low could activate a larger downside movement and could bring new selling opportunities.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback