empty
 
 
30.07.2021 09:38 AM
Technical Analysis of EUR/USD for July 30, 2021

Technical Market Outlook:

The bulls had broken out of the Falling Wedge pattern at the EUR/USD chart and are about to test the level of 1.1895 which is the upper line of the key short-term resistance. If the level is clearly violated, then the next target is seen at the level of 1.1971 - 1.1995 and 1.2000. The immediate technical support is seen at the level of 1.1873 and 1.1850. The increasing positive and strong momentum supports the short-term bullish outlook despite the overbought market conditions on the H4 time frame chart.

Weekly Pivot Points:

WR3 - 1.1888

WR2 - 1.1859

WR1 - 1.1808

Weekly Pivot - 1.1781

WS1 - 1.1732

WS2 - 1.1699

WS3 - 1.1653

Trading Recommendations:

The down trend continues with a new swing low being made around the level of 1.1761. The key long term technical support is seen at 1.1704 and the Falling Wedge pattern is being made around this level. When this cycle is terminated, the up trend can be continued towards the next long-term target located at the level of 1.2350 (high from 06.01.2021).

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback