country flagالعربية
0
0

EUR/USD Technical analysis 9 January 2019

2019-01-08 11:41 pm | Resource: Technical Analysis | No Views : 238

Time frame Used - four hours
The EURUSD is moving in a sideway direction in the near term.
EUR/USD CHART
The EURUSD is still facing resistance and selling pressure around the resistance levels of 1.1480, which pushed it down but it still consolidation above level of  1.1410, where the EURUSD saw a decline during the morning trade which pushed it back down to level of  1.1417 , and we not that the Investors are waiting for any data Or stimulating economic reports for the Eurozone.
In view of the technical indicators
Note that the EURUSD is moving above moving average 20 line for the Bollinger band indicator but it failed to touch the upper boundary from the Bollinger indicator.
Both the RSI and the Stochastic are indicating to decline of the indicators to downside after hit the indicators for the overbought area.
 Therefore, we expect that the EURUSD will violent the support level of 1.1410 down again, Which by breaking it below will target the levels of 1.1350 - 1.1300.
The alternative scenario is that the EURUSD breached level of 1.1500 to the upside for targeting the 1.1550 level.
Recommendation
Sell the EURUSD around the current levels for targeting around levels of  1.1350 – 1.1300 With the activation of stop loss in the case of the closure of the highest level of 1.1500.
The fundamental overview
• In terms of economic data will be issued several reports for the euro area such as the release of the German trade balance report at 2 am GMT, as well as the Italian Unemployment Rate report at 4 am GMT, as well as the report of the unemployment rate for the euro area in 5am ​​GMT.
• On the other hand, a number of important data, reports and events will have a strong impact on the US dollar, which we expect to have a positive impact on the US Dollar and negatively on the European currency, such as US President Donald Trump's speech, 2 pm GMT.
Resistance: 1.1484 - 1.1500 - 1.1550
Support: 1.1410 - 1.1350 - 1.1300
Direction: sideway
Technical Analysis
Forex Analysis
Bitcoin News


Other news

Sterling fell and euro rose amid renewed uncertainty about Brexit

  The pound weakened against major currencies in the European session on Monday, amid renewed uncertainty over Brexit, with officials from the UK and the European Union saying at the weekend that more work was needed to secure the Brexit agreement. After intense talks in Brussels, the EU's chief negotiator, Michel Barnier, said there was still a "big gap" on tariff arrangements. The pound traded in a negative territory against…

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 doubts.TradingPekk.com 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.