empty
 
 
24.08.2023 04:08 PM
Technical analysis on EURUSD for August 24th, 2023.

This image is no longer relevant

Blue lines- Fibonacci retracement levels

green line-support trend line

EURUSD remains under pressure. For a 6th straight week, EURUSD is in negative territory making lower lows and lower highs. Price has now broken below the green upward sloping trend line supporting the trend since August of 2022. The break below the green support trend line is a bearish sign. This price action increases the chances that the entire upward move is completed. Our first pull back target is at the 38% Fibonacci retracement level at 1.0612. EURUSD remains vulnerable as long as price is below recent lower high at 1.0930.

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 $9000 more!
    In May we raffle $9000 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