Aurum Markets Blog Technical Analysis Should we expect a breakout or a rebound on EURUSD?

Should we expect a breakout or a rebound on EURUSD?

Should we expect a breakout or a rebound on EURUSD? post thumbnail image

EURUSD is heading towards the support line of a Channel Down and could reach this point within the next 21 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

Supported by Downward sloping Moving Average

Target: 1.1603 Entry: 1.1663 Stop: 1.175

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post