EUR/USD

EUR/USD: technical analysis

Current trend, On D1 chart, the pair moves within the upward channel. The level of 1.1474 (the midline of the Murrey trading range [4/8]) seems to be the nearest target for the "bulls".Within two months, it has been tested several times, but unsuccessfully. Its breakout can cause growth to the levels of 1.1535 (Murrey [5/8]) and 1.1596 (Murrey [6/8]). The price consolidation below 1.1413 (Murrey [3/8]) can lead to a decline to the level of 1.1352 (Murrey [2/8], the midline of Bollinger Bands). However, the growth of quotes now looks more preferable: Bollinger Bands are directed upwards, MACD histogram is growing in the positive zone, and Stochastic is directed upwards. One should also consider that in the near future the activity of investors will be reduced due to the New Year holidays.

Support and resistance

Support levels: 1.1413, 1.1352, 1.1230.

Resistance levels: 1.1474, 1.1535, 1.1596.

5bcb26e2461ce78a236e0933085f80ee.png

Trading tips

Long positions may be opened from the current level with targets at 1.1474, 1.1535, 1.1596 and stop loss at 1.1400.

Short positions may be opened from 1.1400 with the target at 1.1352 and stop loss at 1.1440.

Implementation period: 3-5 days.

 

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 1.1437
Take Profit 1.1474, 1.1535, 1.1596
Stop Loss 1.1400
Key Levels 1.1230, 1.1352, 1.1413, 1.1474, 1.1535, 1.1596

 

Alternative scenario

 

Recommendation SELL STOP
Entry Point 1.1400
Take Profit 1.1352
Stop Loss 1.1440
Key Levels 1.1230, 1.1352, 1.1413, 1.1474, 1.1535, 1.1596

Add comment

Security code
Refresh

© 2014-2018 ForexCrypto.top, Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance. ForexCrypto.top is an affiliate partner with various brokers and may be compensated for referred Traders. All reviews remain unbiased and objective and immediate action will be taken against any broker which is found to be in breach of regulation. These partnerships have proven to be great aids in the furthering communication between brokers and our visitors. Only the NFA regulated brokers featured on this site are available to U.S. customers. Forex

Search