EUR/USD-market strategy can be a buy from the level 1.3590$
Technical oscillators supporting the bullish trend for the currency pair
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines in a bullish direction and crossing below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction.
__________________
Discover how to earn $4,567,09 per month because there is a software that tells you what to do in order to have success with Forex trading. Forget everything you've ever been taught about building a solid income in Forex from the "gurus". Let this 25- yr "unknown" forex trader with a award winning software show you how he built a business that makes him serious income every day just by working only 30 minutes daily ==> http://www.supreme-forex.com
EUR/USD's recovery extends further to 1.3768 but still lacks decisive momentum to take out 1.3785 resistance. There is still no confirmation of a short term bottom yet. Further decline is still in favor as long as 1.3785 resistance holds. Below 1.3484 minor support will flip intraday bias back to the downside for 1.3258 low first. Break will confirm recent down trend has resumed for long term fibonacci level at 1.3053. On the upside, though, above 1.3785 will indicate that a short term bottom at least formed and bring stronger rebound.
In the bigger picture, note that EUR/USD is now sitting in an important long term support zone with a) 38.2% retracement of 0.8223 (00 low) to 1.6038 at 1.3053, 55 Months EMA at 1.3361 and the development in the new few weeks will be important to the long term outlook. Firstly, fall from 1.4687 as well as that from 1.6038 is still in progress as long as 1.3785 resistance holds. Sustained trading below mentioned 1.3053 fibo resistance and 55 months EMA will affirm that medium downside momentum is still strong in EUR/USD. Further break of 100% projection of 1.6038 to 1.3381 from 1.4867 at 1.2710 will add more credence to the case that whole down trend from 1.6038 is developing into a five wave impulsive decline. In other words, EUR/USD is probably just in the middle of such fall which should extend beyond 1.1639 low before forming a medium term bottom.
On the upside, however, above 1.3785 will firstly indicate that a short term bottom is in place. Secondly, this will argue that EUR/USD is drawing some support from mentioned support zone to form a medium term bottom. Stronger rebound should be seen in this case with focus turned back to 1.4867 resistance Break will confirm that a medium term bottom is in place. Also, this will leave the decline from 1.6038 in three wave structure which suggests that the price actions from 1.6038 are developing into something that's corrective in nature. In other words, fall from 1.6038 is probably just a correction from the long term angle and will likely be contained above 1.1639 low even if decline resumes.
I think currently is quiet difficult to do conclusions or forecast about this currency because I suppose the situation can change at any time. It's dangerous to make a lot of transactions now with its. but it's only my opinion!
I think currently is quiet difficult to do conclusions or forecast about this currency because I suppose the situation can change at any time. It's dangerous to make a lot of transactions now with its. but it's only my opinion!
Quite with you agree. A dollar is now unsteady and can go to any direction, it is needed to wait actions, that to decide that to do farther.
At 1.3500/20 it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.
For short-term sells on condition of formation of topping signals the targets will be 1.3440/60, 1.3360/80 and/or further breakout variant below 1.3340 with targets 1.3280/1.3300, 1.3220/40.
An alternative for buyers will be above 1.3560 with targets 1.3600/20, 1.3660/80, 1.3720/40, 1.3780/1.3800
The possibility of rate return to close 1.2940/60 resistance range, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.
For short-term sells on condition of formation of topping signals the targets will be 1.2850/70, 1.2740/60, 1.2680/1.2700 and/or further breakout variant up to 1.2600/20, 1.2520/40, 1.2460/80.
An alternative for buyers will be above 1.3120 with targets 1.3160/80, 1.3220/40, 1.3280/1.3300.