empty
 
 
25.09.2023 02:40 PM
Technical analysis on EURUSD for September 25th, 2023.

This image is no longer relevant

Red lines- bearish channel

Blue lines- Fibonacci retracement level

EURUSD is trading around 1.0627. Short-term trend remains bearish as price continues making lower lows and lower highs. The first trading day of the week has started with pressure against EUR. Price remains inside the downward sloping channel and has reached very close to our first pull back target. Our first pull back target was the 38% Fibonacci retracement level. With the RSI still not in oversold territory, we can expect EURUSD to continue lower. In the near term EURUSD is oversold and a bounce higher is justified. Upside bounce target is at 1.0710. So far no sign of such a bounce coming.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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