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EUR/USD Technical analysis 19 September 2018

2018-09-18 11:14 pm | Resource: Technical Analysis | No Views : 168

رTime 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 1.1720 level to retract to the 1.1658 level as it touched the lower boundary of the ascending channel
In view of the technical indicators
Both the RSI and Stochastic are indicating to weakness of the indicators
  Accordingly, we expect that the EURUSD will test the upper boundary of the up channel around  levels of  1.1720-1.11760 again
  The alternative scenario is that the EURUSD retreated to levels of  1.1.1600 - 1.1563 - 1.1529
   Resistance: 1.1720 - 1.1760 - 1.1840
Support: 1.1600 - 1.1563 - 1.1529
Direction: sideway
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