Technical analytics

EURUSD market technical outlook

EURUSD
Daily chart:
By the end of yesterday’s trading session a bearish inside bar was formed at the tip of upswing. This setup is a very strong sales trigger! Besides, the signal was formed from the strong pivot-level 1.1340, that increases probability of its successful execution.

H1-chart:

Local structure of euro keeps upward tone so far, but already has tangible lower high. It’s also a good premise for development of downswing and potential break of the closest low (1.1293), that would totally confirm downward reversal of the trend.

Actual target of decline today can be the 1.1250 level.

Conclusions:

So, we expect start of quotes’ decline in direction 1.1293 and 1.1250.

Trading recommendations:

Shorts towards 1.1293 and 1.1250.


New articles