empty
 
 
26.05.2023 02:31 PM
Technical analysis on EURUSD for May 26th, 2023.

This image is no longer relevant

Red lines -bearish channel

EURUSD is trading around 1.0756. Price is bouncing higher today. Price remains inside the downward sloping red channel. Bears remain in control of the short-term trend. After another negative week, traders look to take profits from short positions as the weekend approaches. Thus the bounce higher today. Technically as long as price is below 1.0765 short-term trend remains bearish. Support is found at 1.0725. Bulls need to be cautious as a rejection at current levels could lead to a new lower low below 1.07. Bears remain in control of the trend.

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