country flagالعربية
0
0

Best Opportunities, Vision and Technical Analysis for the EUR/USD pair 21 March 2019

2019-03-20 11:00 pm | Resource: Technical Analysis | No Views : 168

Time frame Used - four hours
The EURUSD is moving in a bullish direction in the near term.
EUR/USD CHART
The purchasing power managed to push the EUR/USD to reach resistance levels of  1.1410 - 1.1448 as the EUR/USD faces resistance and selling pressure around this level.
Level in view of technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators to the overbought area.
  Accordingly, we expect that the EUR/USD will drop to levels of  1.1366-1.1320 again and this scenario fails in case of stability above level of 1.1410.
  The alternative scenario is that the EUR/USD retest at 1.1448 - 1.1514.
Big Picture
Looking at the EUR/USD movement over the daily time frame, the EUR/USD pair is able to touch the lower boundary of the up channel that is breached below as it faces resistance and selling pressure around this level.
EUR/USD DAILY CHART
Recommendation
Sell The EUR/USD around the 1.1410 level for targeting levels of 1.1366 - 1.1320 With the activation of stop loss in the case of the closure of above level of 1.1410.
The fundamental overview
• On the economic data level, the EU Economic Summit will be held throughout the day.
• On the other hand, US Unemployment Claims will be released at 7:30 am GMT, in addition to the Philadelphia Manufacturing Index on a monthly basis at 7.30 am GMT, as well as the release of US labor market data on a monthly basis at 8:30 am GMT.
Resistance: 1.1410 - 1.1448 - 1.1514
Support: 1.1360 - 1.1334 - 1.1296
Direction: up
Technical Analysis
Forex Analysis
Bitcoin News


Other news

Euro fell as pound rose while dollar was mixed during Tuesday's

The euro fell as the pound rose, while the dollar was mixed against the major currencies as trade negotiations continued and traders followed up with comments from the Chinese and US sides. The Federal Reserve Bank of New York is making a $ 67.6 billion purchase The Federal Reserve Bank of New York on Tuesday announced a $ 67.6 billion bid for the latest overnight repurchase. The bank's previous operation…

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.