EUR/USD Technical analysis 11 January 2019
2019-01-10 11:21 pm | Resource: Technical Analysis | No Views : 134
The EURUSD is moving in a sideway direction in the near term.
The EUR/USD declined at the beginning of morning trading as we expected in the previous report to hit level of 1.1484, where we advised the addition of buying positions where bears managed to push the EUR/USD downwards forming a positive candlestick formation.
In view of the technical indicators
Note that the EUR/USD is moving between the Bollinger's moving average line20 and the upper boundary of the Bollinger band.
Both the RSI and the Stochastic indicate that there are no signs.
Therefore, we expect that the EUR/USD will rebound level of 1.1557 again, Which by breaking it above will target the level of 1.1612, and this scenario would fail in case of broke the 1.1480 level down
The alternative scenario is that the EUR/USD pair broke the Bollinger's moving average line20 around the 1.1480 level to drop to level of 1.1410.
Buy the EURUSD around level of 1.1480, (buying dips) With the activation of stop loss in case of closure below the level of 1.1480.
The fundamental overview
• On the economic data level, the PMI report will be released on a monthly basis at 4 am GMT.
• The US Core Consumer Price Index and the US Consumer Price Index will be released on a monthly basis at 8.30 am GMT.
Resistance: 1.1557 - 1.1612 - 1.1550
Support: 1.1480 - 1.1410 - 1.1350
British pound was trading with gains against the euro and the dollar on Friday in a new hope that it is still possible to avoid Britain leaving the EU after the EU agreed to allow the UK to delay its departure from the bloc. The United Kingdom will announce a shameful vote British Prime Minister Teresa Mae is committed to making a meaningful vote on leaving the European Union next…
- Euro is falling due to a slowdown in the German private sector 11:59 am2019-03-22
- Bank of England keeps interest rates unchanged and the GBP is falling and bonds are rising 12:28 pm2019-03-21
- Dollar is different after the Fed decision to fix interest rate 08:44 am2019-03-21
- Sterling falls against all major currencies due to concerns of the Brexit 09:29 am2019-03-20
- The Dollar Falls With the Start of the Fed Meeting 11:57 am2019-03-19
- Euro rallies as economic data weighs in Euro zone 10:37 am2019-03-18
- The dollar is retreating at the end of weekly trading and trading negotiations 08:47 am2019-03-15
- Sterling fell before the vote to delay Brexit from the European Union 08:23 am2019-03-14
- The dollar fell during Wednesday session and is awaiting the Brexit developments 12:10 pm2019-03-13