Technical analytics

EURUSD market technical outlook

EURUSD

Daily chart:

Euro is consolidating inside triangle with upper wall of the range at 1.1300. It’s above the middle Bollinger band, but below the upper band (1.1338-1.1382).

Thus sellers’ level of activity at 1.1300 will reveal real bearish mid-term potential.

H4-chart:

Local upward correction is limited by the upper Bollinger band (1.1318-1.1338). Thus it’s the most optimal zone for opening short-trades. Target of decline is the lower band (1.1184).

H1-chart:

On hourly chart the upper Bollinger band was broken (a signal of uptrend extension). Therefore a short-term tactics remain longs in direction 1.1318-1.1338. It’s recommended to open long-trades from the middle band (1.1231).

Conclusions:

So, we expect extension of growth to 1.1318-1.1338. The major can perform prior testing of 1.1231 allowing traders to get good opportunities for going long.

Trading recommendations:

  1. Longs from 1.1231 to 1.1318-1.1338.

  2. Shorts from 1.1318-1.1338.

 

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