EOS Establishes New Lows


Trading Ideas


EOS Establishes New Lows

EOS has lost more than 13 percent in the past 24 hours meaning the currency pair is almost the biggest loser of the Top 20. The currency pair resumed its downside tendency, started during the weekend. It seems that EOS/USD is unable to find support as the currency pair establishes new lows.

Let’s have a closer look at what is going on the Hourly chart. The currency pair had a correction on Tuesday, and fluctuated above the support area at $9.91. However, EOS/USD crossed this line later and moved downwards. The possible ways for EOS are the following:
1. Red scenario ( bearish ). The currency pair will develop its downside tendency and break through the closest support area at $9.31, targeting the next one at $8.89.
2. Orange scenario (neutral). EOS/USD will stay within the range, limited by the resistance area at $9.91 and the support area at $9.31.
3. Green scenario ( bullish ). EOS will break through the resistance area at $9.91and run higher, targeting the next resistance at $10.54.

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