EUR/USD: Technical Analysis

The price consolidated within the sideways range. Trading is now carried out at 1.3770/80 level. Indicators are neutral, moving horizontally, so earlier forecasts still apply - level 1.3700 and 1.3650 support breakouts will be a signal to a downtrend. In this case the price will test targets at 1.3490/1.3500 and 1.3380/70 levels. The later was earlier considered as the key support on the way down. Reversal to the uptrend (red lines) channel or 1.4000 resistance breakout would indicate the change of sentiment to the bullish.



Analysis by: Arkady Nagiev
Forex4you analyst

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