👋 Interested in how you can make an $1,000 per day with a trusted heavily regulated ⭐⭐⭐⭐⭐ 5-star international broker? Sign up for a free consultation.
EURUSD Trading Signals: Channel Down Pattern
EURUSD is currently exhibiting a Channel Down pattern on the chart, indicating a potential downward trend in the price movement. Traders should take note of the following trading signals:
Technical Indicators:
- The price of EURUSD is approaching the support line of the Channel Down pattern.
- If the current movement continues, EURUSD could potentially test the 1.0394 level within the next 3 days.
- Historical data shows that EURUSD has tested this support line multiple times in the past, suggesting that the current movement may be short-lived.
- Traders should be prepared for a possible rebound in price, similar to previous instances where the price bounced back from this support level.
Correlated Assets:
EURUSD’s price movement may be influenced by other correlated assets, such as:
- EURGBP
- EURJPY
- USDJPY
Economic Calendar Events:
Traders should also keep an eye on upcoming economic calendar events that could impact the price of EURUSD, such as:
- US Non-Farm Payrolls
- European Central Bank (ECB) Interest Rate Decisions
- US Federal Reserve FOMC Meetings
⚠ If you wish to learn how to invest in the right stocks or trade successfully online, you can look into our free daily news about stock market news, crypto market news, commodities news, forex news, and financial markets daily technical analysis and trading signals.
