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EURUSD continues to throw up negative indicators

EURUSD continues to throw up negative indicators. Selling pressure over the last week has broken the support line of the holding pattern which started forming back in August.

The currency pair is gaining a lot of attention. The question is whether this represents the start of a long-term move in line with the pattern seen in the Monthly chart. If that is the case then target prices could even include parity.

EURUSD – Monthly Source: IG

 

Source IG

 

 

Instrument

Hourly

Daily

GBP/USD

1.2863

STRONG BUY

NEUTRAL

EUR/USD

1.1665

SELL

STRONG SELL

FTSE 100

5,942

STRONG BUY

SELL

S&P 500

3,363

STRONG BUY

STRONG BUY

Gold

1,879

NEUTRAL

SELL

Silver

2,250

SELL

STRONG SELL

Crude Oil WTI

40.42

SELL

STRONG SELL

Bitcoin

10,673

SELL

STRONG BUY

 

Our analysis is based on a comprehensive summary of market data. We use a range of metrics with weighting given to simple and exponential moving averages and key technical indicators.

 

 

Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you.