Technical analytics

EURUSD market technical outlook

EURUSD
Daily chart:

Upswing, having tested the support level 1.1340, slowed down tangibly, that, at this moment, leads to trading inside yesterday’s range (“bearish inside bar” formation). In case the session closes the same way, a solid sell signal will be formed and signal of new trending downswing start.

H1-chart:

Local structure, as we see, keeps ideal shape of uptrend and supposedly is about to complete correction. In case the next hourly close forms bullish pinbar, market will get substantial trigger for further growth of the quotes in direction 1.1350 and 1.1400.

Conclusions:

Main scenario: Continuation of growth from current levels in direction 1.1350 and 1.1400.

Alternative scenario: Continuation of trading inside yesterday’s range and forming of bearish inside bar by the end of the day.

Trading recommendations:

Longs towards 1.1350 and 1.1400 (after confirming signal on H1).

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