Blue lines- bullish channel
Red lines- bearish RSI divergence
EURUSD is trading once again below 1.10 after making a move towards 1.11 earlier this week. Price remains inside the medium-term upward sloping blue channel and continues to provide bearish RSI divergence warnings. With NFP numbers announced better than the market expected, USD is strengthening. and EURUSD is under pressure today. Price is challenging recent lows at 1.0942. A break below this recent low would be a sign of weakness. EURUSD is vulnerable to a move towards 1.08.
Read next: Forex: InstaForex's analyst presents Euro against US dollar trading tips| FXMAG.COM
Relevance up to 15:00 2023-05-06 UTC+2 This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.
