The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
EUR/USD turning lower from trendline resistance
The pair has been attempting to break through trendline resistance this morning, with EUR/USD having bounced from the key $1.2334-$1.2323 support zone.
A fall below there would create a double top formation, bringing a bearish outlook for the short term. However, until we break that level, there is always a chance we will push back into the bullish long-term trend. For greater directional confidence, watch for an hourly close above $1.2434 (bullish), or below $1.2323 (bearish).
.jpg)
