SimpleFX EURUSD Chart Analysis: September 30, 2019

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The market movement continues within the downward green channel. Earlier, we observed a gradual increase in the price from the lower to the upper bound of this channel, after which the trend went in a downward direction. It is likely that in the coming trading days we will see the price decline in the direction of the lower green bound, which is the support line for the price. In this case, the target for the bears will be 1.084. This scenario is supported by the fact that the price is below the moving average, which indicates the strength of the downtrend. However, if we see a breakout of the moving average near the level of 1.095 and further upward movement, the growth may continue to the upper green wall and the resistance level of 1.105.

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