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

December 9, 2016
Gold is tired of moving in the range
On the daily chart of gold, the bears remain control over the market. As long as quotes are below $ 1,195, their positions are not under threat. The update of the December low can lead to the continuation of downward movement towards $1,116...
December 9, 2016
Oil prices ignored bigger-than expected drop
After an Asian consolidation oil prices moved higher on Thursday. The price slightly grew and reversed the minor part of its losses. The benchmark approached 53.50 post-Europe open. The price stayed below the 50 and 100 EMAs in the 1 hour chart...
December 9, 2016
EURUSD Trades Below Significant Resistance
The Italian referendum weighed on EUR/USD, fell to a year low of 1.0506 on 5th December. It was followed a quick recovery, as a result of the rebound of the Euro after testing the significant support level at 1.0500. Yet it retraced after testing the significant resistance level at 1.0800...

XTB Rating
Trade360 Rating
Grand Capital Rating
HotForex Rating
 FXTM Rating
FBS Rating

Porter Finance Rating
Banc De Binary Rating
Empire Option Rating
OptionRally Rating
Binary Brokerz Rating
365BinaryOption Rating