EUR USD Analysis - Forex News
The EUR/USD has strongly moved up, breaking all the technical support levels on its way. The local high was made at the level of 1.1261, just below the key technical resistance zone located between the levels of 1.1264 - 1.1274. Any breakout through this zone will change the temporary outlook from bearish to bullish. Please notice, that despite such a big move up the pair is still forex trading inside of the consolidation zone and the key technical resistance zone must be clearly and impulsively violated to continue the move up.
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.1280
• Take Profit Level: 1.1320 (40 pips)
If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.1230
• Take Profit Level: 1.1210 (20 pips)
USDJPY
A possible long position at the breakout of the level 107.80
GOLD
A possible long position at the breakout of the level 1329.00
USDCHF
A possible short position in the breakdown of the level 0.9900
GBPUSD
A possible long position at the breakout of the level 1.2640
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