Technical Analysis

EUR/USD Increases Ahead The US Data


EUR/USD resumed the yesterday's bullish candle and now is trying to retest the upper median line (uml) of the minor ascending pitchfork. Could be attracted by the confluence area formed at the intersection between the upper median line (uml) and the upper median line (uml) of the descending pitchfork.

A rejection from the mentioned resistance levels will send the rate down again, an important downside target will be at the confluence area formed by the median line (ml) of the descending pitchfork with the median line (ml) of the ascending pitchfork.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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