See also
20.10.2023 05:37 PMThe 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.
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.
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.
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?
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 InstaTrade anyway.
We are sorry for any inconvenience caused by this message.
