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During the past few weeks, the EURUSD pair has been trapped within a consolidation range between the price levels of 1.1700 and 1.1900.
In late September, Re-closure below the price level of 1.1700 has initiated another downside movement towards 1.1540 which managed to hold prices for a short period of time before another decline took place towards 1.1200.
Currently, the price zone around 1.1500 stands as a prominent supply-zone to be watched for SELLING pressure and a possible SELL Entry upon any upcoming ascending movement.
Moreover, it is not advised to add new SELL Entries as the pair already looks oversold.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
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