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Expert In



Technical analysis on EURUSD for October 19, 2021.

EURUSD made a high today at 1.1669. Price reached earlier today the 38% Fibonacci retracement level of the entire decline, which was our initial bounce target, after the bullish break out above the downward sloping trend line.


Blue line- resistance (broken)

Black lines - Fibonacci retracements

EURUSD remains in a short-term bullish trend. Our bullish signal was given when price broke the blue trend line to the upside. Our target was the 38% Fibonacci retracement. Price got rejected at its first attempt to break above the 38% Fibonacci level. Support is at yesterday's lows at 1.1572. As long as this level holds, bulls have hopes for more upside towards our next target of 1.1716.

The material has been provided by InstaForex Company -