EUR/USD Testing 2017 Low
Al Brooks | Aug 10, 2022 09:31AM ET
- The EUR/USD broke to the upside after the 5:35 AM PT report. At the moment, it looks like the current bull breakout of the triangle will be successful.
- Bulls have reached the 2017 low, and the market is currently testing the May to June trading range lows.
- Traders will pay close attention to see if the bulls can close the current bar on its high. Next, can the bulls get a strong follow-through bar, increasing the odds of higher prices?
- Overall, this is good for the bulls and increases the odds of higher prices and a test of the July high and the June 27 high. Both of these targets are in the middle of the May to June trading range, another magnet for the bulls.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.