Technical analytics

EURUSD market technical outlook

EURUSD

Flat of the euro between support 1.0752 and resistance 1.0845 is in progress. It seems that bulls will be able to push off for recovery of the major in direction of the upper Bollinger band (1.0949), however we can anticipate that only in the context of mid-term scenario - today ADX indicator vehemently suggests further flat.

H4-chart:

Moderate growth of the quotes goes on the back of ADX indicator correction. Ability of bulls to pass the middle Bollinger band (1.0823) is in question. If they succeed, the euro will get extra room of 50 points for growth to 1.0873.

H1-chart:

Intraday trending potential is absent, therefore the most likely today’s scenario is an extension of flat tendency in the 1.0782-1.0823 range (the scope of Bollinger bands).

 

Expectations:

Flat in the 1.0782-1.0823 range.

Trading recommendations:

Short-term trades in the 1.0782-1.0823 range.

 

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