empty
20.10.2023 05:37 PM
EUR/USD: upside reversal possible

The EUR/USD pair seems undecided in the short term. It's located at 1.0588 at the time of writing. The price action signaled exhausted sellers and announced a potential reversal. Still, a larger growth is far from being confirmed. The greenback depreciated also after Fed Chair Powell's speech yesterday.

Also, the US reported mixed figures in the last session. Today, Canadian Retail Sales came in better than expected, while Core Retail Sales came in better than expected but worse compared to the previous reporting period.

EUR/USD Range Formation!

This image is no longer relevant

The EUR/USD pair is trapped between 1.0616 and 1.0556 levels. Only escaping from this range could bring us new opportunities.

As you can see on the H1 chart, the price jumped above the downtrend line signaling a potential reversal. Still, it's located within an up channel as well.

EUR/USD Outlook!

A new higher high, a bullish closure above 1.0616 activates further growth. This is seen as a buying opportunity. An upside continuation could be invalidated if the rate comes back below the downtrend line and if it drops below the minor uptrend line.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on April 4. Review of Yesterday's Forex Trades

The price test at 145.95 occurred when the MACD indicator moved significantly below the zero line, limiting the pair's downside potential. The second test of 145.95 coincided with the MACD

Jakub Novak 09:04 2025-04-04 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on April 4. Review of Yesterday's Forex Trades

The price test at 1.3135 occurred when the MACD indicator moved significantly below the zero line, limiting the pair's downside potential. For this reason, I did not sell the pound—especially

Jakub Novak 09:03 2025-04-04 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on April 4. Review of Yesterday's Forex Trades

The price test at 1.1116 occurred when the MACD indicator moved significantly above the zero line, limiting the pair's upside potential. For this reason, I did not buy the euro

Jakub Novak 09:03 2025-04-04 UTC+2

Intraday Strategies for Beginner Traders on April 4

The euro and the pound are once again in demand, while the U.S. dollar is under heavy pressure. I believe the reason behind this is apparent, although few likely expected

Miroslaw Bawulski 08:00 2025-04-04 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders – April 3rd (U.S. Session)

Trade Breakdown and Trading Tips for the Japanese Yen The test of the 147.16 level coincided with the MACD just beginning to move downward from the zero line, which

Jakub Novak 18:43 2025-04-03 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders – April 3rd (U.S. Session)

Trade Breakdown and Trading Tips for the British Pound The test of the 1.3077 level coincided with the MACD indicator just beginning to rise from the zero line, confirming

Jakub Novak 18:36 2025-04-03 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders – April 3rd (U.S. Session)

Trade Breakdown and Euro Trading Advice The test of the 1.0928 price level occurred just as the MACD indicator began moving up from the zero line, confirming the correct entry

Jakub Novak 18:34 2025-04-03 UTC+2

XAU/USD – Analysis and Forecast

Gold is finding support near the $3,116 level, pausing its intraday pullback after reaching a new all-time high. Investor concerns over the potential consequences of President Donald Trump's reciprocal tariffs

Irina Yanina 18:20 2025-04-03 UTC+2

GBP/USD. Analysis and Forecast

Today, the GBP/USD pair is showing strong growth, reaching levels last seen in October 2024. This is driven by bearish momentum in the U.S. dollar, which has created favorable conditions

Irina Yanina 11:00 2025-04-03 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on April 3. Review of Yesterday's Forex Trades

The price test at 149.49 occurred when the MACD indicator had just started moving up from the zero line, confirming the validity of the entry point for buying the dollar

Jakub Novak 09:02 2025-04-03 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.