country flagالعربية

EUR/USD Technical analysis 19 December 2018

2018-12-18 10:29 pm | Resource: Technical Analysis | No Views : 190

Time frame Used - four hours
The EURUSD is moving in a sideway direction in the near term.
The EURUSD rebounded in a corrective move to reach the resistance level of 1.1401 as the EUR/USD pair is facing resistance and selling pressure around the main downtrend line which trading below it forming a negative candlestick pattern.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the weakness of the indicators and confirming the bearishness.
  Therefore, we expect that the EURUSD will drop to levels of 1.1300 - 1.1269 - 1.1215 once again and this scenario fails in case of stabilize above level of 1.1300.
  The alternative scenario is that the EURUSD breached levels of 1.1377 to reach the levels of 1.1382 - 1.1401 - 1.1441.
Our view is currently neutral about EURUSD pair.
The fundamental overview
On the economic front, German PPI will be released on a monthly basis at 2 am GMT, which measuring the change in prices of goods sold by manufacturers on a monthly basis.
On the other hand, traders are waiting for various events, reports and data regarding the US Dollar, as the Federal Reserve Rate Statement will be released, as well as the Federal Reserve Economic Outlook at 2 pm GMT.
Resistance: 1.1358 - 1.1377 - 1.1401
Support: 1.1300 - 1.1269 - 1.1215
Direction: sideway
Technical Analysis
Forex Analysis
Bitcoin News

Other news

Pound Sterling rises against its major as Britain exits Europe

  The pound strengthened against its major counterparts in the European session on Friday, as fears over Brexit eased after a media report showed progress in the controversial Irish support clause. According to a poll, Britain is likely to leave the EU without an agreement regulating the process and future relationship, as 43.5% of senior financial officials polled by CNBC believe. The Democratic Party has agreed to soften its stance…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.