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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



EURUSD confirms short-term trend reversal.

As we were expecting for some time, EURUSD has finally confirmed the short-term trend change from bearish to bullish. We were warned by the bullish RSI divergence and recent price action that a reversal was imminent. Every time price was below 1.18 and above 1.1750 we said that this is a buying opportunity.


Red line - resistance

Blue line - bullish Divergence

EURUSD today broke above the short-term resistance trend line. Price has started making higher highs and higher lows. Sell stop protection for bulls is the recent low at 1.1752. Bulls do not want to see price break below this level no matter what. Next upside target is at 1.1950 and this is also a major Fibonacci resistance. Bulls need to break above this level in order to continue higher.

The material has been provided by InstaForex Company -