Technical analytics

EURUSD market technical outlook

EURUSD

Daily chart:

Yesterday’s bearish engulfing almost for sure will drive to further forming of downswing, which isn’t completed so far. Thus today we can expect testing of the pivo-level 1.1262.

H1-chart:

Local downward structure undergoes the stage of corrective upswing building. Most likely we’ll see damping of growth at the 1.1300-1.1308 zone and following new trending downswing in direction 1.1262.

Conclusions:

So, we expect testing of the 1.1308 zone and then decline towards 1.1262.

Trading recommendations:

Shorts from 1.1308 towards 1.1262.

 

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