The pair is trading within the downward trend and is moving towards the level of 1.7015

March 10, 2015

EUR/USD, H4

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is below the price chart; current cloud is descending. The pair is trading within the  downward trend and is moving towards the level of 1.7015. The closest resistance level is Tenkan-sen line (1.0820).

EUR/USD, D1

On the daily chart Tenkan-sen line is also below Kijun-sen, however, both lines are directed steeply down, reflecting the strength of the trend. Chinkou Span line is below the price chart; current cloud is descending. The closest resistance level is Tenkan-sen line (1.1056). One of the previous minimums of Chinkou Span line is expected to be a support level at 1.0700.

Key levels

Support levels: 1.0715, 1.0700.

Resistance levels: 1.0820, 1.1056.

Trading tips

On the both charts Bearish trend is still strong and the pair continues to fall. Targets for the short positions are 1.0715 and 1.0700.

Anastasiya Glushkova
Analyst at LiteForex Investments Limited

Publication source
LiteForex information  LiteForex reviews

February 24, 2017
Oil prices slightly grew
Brent oil prices extended their recovery in the Asian session on Thursday. Buyers led the price higher and broke 56.50 dollars per barrel in the early European morning...
February 24, 2017
Dollar drifts on Fed's lack of optimism
FOMC February meeting minutes released on Wednesday failed to provide support for the bulls to manage a sustainable breakout above 101.50...
February 24, 2017
Can gold continue post Fed rally?
Gold jumped to a 3 month high today, snapping a 3-day losing streak today after traders digested yesterday’s minutes meeting from the US Federal Reserve...

Tickmill Rating
NPBFX Rating
FIBO Group Rating
Vantage FX Rating
 FXTM Rating
OctaFX Rating

OptionBit Rating
TopOption Rating
Banc De Binary Rating
OptionTrade Rating
UKoptions Rating
365BinaryOption Rating