Forex4you - Analytics

Forex4you

514.75 7.25/10
57% of positive reviews
Real

EUR/USD: establishing mini-down-trend

The EUR/USD pair has continued falling from last Monday’s peak, and has now reached a minor trend-line where it has paused to consolidate. On the 4-hour chart it is showing two lower lows and two lower highs, indicating the pair is in a mini-down-trend.

This will probably continue, but I would want to see a clear move below the trend-line and the 1.1155 lows first, for confirmation of more down-side, and a target at 1.1125 where the R1 monthly pivot is today – although don’t forget that tomorrow it will shift, because of the start of a new month, and September’s monthly pivot will probably be above in the 1.1230s. If that is so, then I would expand the target to 1.1100.
EURUSD31fin

The EUR/USD pair has continued falling from last Monday’s peak, and has now reached a minor trend-line where it has paused to consolidate. On the 4-hour chart it is showing two lower lows and two lower highs, indicating the pair is in a mini-down-trend.

This will probably continue, but I would want to see a clear move below the trend-line and the 1.1155 lows first, for confirmation of more down-side, and a target at 1.1125 where the R1 monthly pivot is today – although don’t forget that tomorrow it will shift, because of the start of a new month, and September’s monthly pivot will probably be above in the 1.1230s. If that is so, then I would expand the target to 1.1100.
EURUSD31fin



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree