Technical analytics

EURUSD market technical outlook


Daily chart:

Bulls easily handled pivot-zone 1.1606-1.1656 and round level 1.1700. There are no any doubts that the next prey of buyers will be the 1.1800 mark. Moreover it’s quite likely to take place even today - ADX is at its highest.


Local ADX is also in a trending zone, therefore no matter how strong is our wish to buy euro during pullback to broken PPZ 1.1607-1.1656, such mission might be impossible today. The most likely scenario is extension of growth from current levels.


Strong overbought conditions and corrective dynamics of hourly ADX may suggest the market needs a short breather. Strong zones of support and resistance are 1.1685-1.1700 and 1.1728-1.1740.


Main scenario: Flat in the 1.1685-1.1740 range.

Alternative scenario: Growth to 1.1800.

Trading recommendations:

Longs from 1.1685-1.1740 to 1.1740 and 1.1800.