EUR/USD Intraday Technical Analysis
The spot rate is currently testing the upper limit of its medium term bearish channel at 1.3060 and seems to initiate a decline. Though, passing these levels will relase significant potential and initiate a bullish trend.
Technical indicators give sell-signals suggesting a decline in the short term.
According to previous events, the market will indicate a bullish opportunity as soon as the spot rate will break through its resistance at 1.3060 with the 1st objective of 1.3120, then 1.3150. A break at 1.3040 will invalidate this scenario.
The spot rate is currently testing the upper limit of its medium term bearish channel at 1.3060 and seems to initiate a decline. Though, passing these levels will relase significant potential and initiate a bullish trend.
Technical indicators give sell-signals suggesting a decline in the short term.
According to previous events, the market will indicate a bullish opportunity as soon as the spot rate will break through its resistance at 1.3060 with the 1st objective of 1.3120, then 1.3150. A break at 1.3040 will invalidate this scenario.
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