Technical analytics

EURUSD market technical outlook

EURUSD

Daily chart:

Upswing wasn’t launched yesterday. Bearish inside bar was formed instead once again. Such flow of events looks like flat, therefore we can expect continuation of this tendency (the range is 1.1161-1.1261).

H1-chart:

As we type this report the structure also has got a flat tone via break of the last high. Thus we can expect development of upswing in direction of the resistance level 1.1230 and then new decline in direction 1.1179.

Conclusions:

Flat in the 1.1179-1.1230 range.

Trading recommendations:

Trading in the 1.1179-1.1230 channel.

 

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