by Lucas Bedwell on October 8th, 2018

EURUSD Analysis – That was a great call!

Time to talk about the most popular instrument on the Forex Market – EURUSD. For the last time, we mentioned this instrument on the 27th of September and back in that day, we were very negative about the future of this pair:

“That all together brings us a mid-term sell signal, which will be active as long as we will stay below the yellow area. „

When, we wrote those words, the price was on the 1.17. Currently, we are almost 200 pips lower and we still have a chance for a further drop. Great call, huh? Since the previous piece was written, the price was mostly going down. The most recent development is a flag formation (red lines) on a super important horizontal support on the 1.151 (orange). That should definitely result with a further drop and any other option would be a great surprise. After the successful breakout of the orange line, EURUSD should aim for the lows from the mid of August. The price reaching that area is very probable.

By Lucas Bedwell

With 3 years of trading experience across Forex, stocks, and cryptocurrencies, Lucas Bedwell has honed his market insights. His close connection to financial markets allows him to craft compelling copy, offering readers valuable perspectives and analyses that reflect his deep understanding of trading dynamics.