Euro to Move in Descending Channel
EUR/USD
The pre-planned break-out variant for sales has been implemented, but with loss of several points in attainment of minimal anticipated target. OsMA trend indicator, having marked fall in activity of both parties in the bigger picture, considering the chosen strategy, does not clarify the choice of planning priorities for today. Therefore, at this point, considering ascending direction of indicator chart, we can assume probability of rate return to 1,2240/60 resistance levels, where it is recommended to evaluate the development of the activity of both parties in accordance with the charts of a shorter time interval. As for short-term sales, on condition of the formation of topping signals the targets will be 1,2180/1,2200, 1,2120/40, 1,2080/1,2100 and (or) further break-out variant up to 1,2020/40, 1,1940/60, 1,1880/1,1900. The alternative for buyers will be above 1,2310 with the targets of 1,2350/60, 1,2400/20.
Forex analysis on majors