EUR/USD for August 30,2019 – Weekly downside in play

EUR/USD is in short-term downtrend and most recently I found the breakout of the 4-week trading range. Further downside is in play…

Red horizontal line – Important resistance and upward objective

Black down slopping line – Resistance line

Purple horizontal lines – Trading range boundaries

Red horizontal lines – Weekly support levels

Strong downward trend is present and I would watch for selling opportunities. The weekly support levels at 1.0915 and 1.0850 are in play. There is nothing bullish on the market and no signs of any reversal, which is indication of the weakness. Watch for selling opportunities on the rallies with the targets at 1.0915-1.0850. Important resistance is set at 1.1160.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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