Technical analytics

EURUSD market technical outlook

EURUSD

Daily chart:

The major still didn’t get an explicit signal for the start of upswing, that causes negative effect for the euro so far - the quotes steadily slide down. At the moment we can assert flat in the 1.1065-1.1115 range. Further decline is hardly possible as well since the structure doesn’t have a full-scale upward correction either.

H1-chart:

Local structure undergoes the stage of downswing building, which probably will be stopped at the strong support 1.1065.

 

Conclusions:

Flat in the 1.1065-1.1115.

Trading recommendations:

  1. Shorts towards 1.1065.

  2. Longs from 1.1065 to 1.1115.

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