Technical analysis for EUR/USD for February 25, 2019
February 25, 2019 7:25 am
EUR/USD continues to trade around the 38% Fibonacci retracement having made a base around 1.1310. Short-term trend remains bullish with potential target at least 1.14.
Red line – important resistance trend line
Green line – important support trend line
Black line – RSI Support trend line
Blue line – short-term trend line support
Blue rectangle – second bounce target area
EUR/USD is making higher highs and higher lows in the short-term price. Both RSI and price respect their short-term support trend lines. As long as this holds, we should expect price to move towards the red trend line resistance and the blue rectangle target area where the 61.8% Fibonacci level and the red downward sloping trend line meet. Short-term support is found at 1.1310-1.1330 while resistance is at 1.1370 and next at 1.1410.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD continues to trade around the 38% Fibonacci retracement having made a base around 1.1310. Short-term trend remains bullish with potential target at least 1.14.
Red line – important resistance trend line
Green line – important support trend line
Black line – RSI Support trend line
Blue line – short-term trend line support
Blue rectangle – second bounce target area
EUR/USD is making higher highs and higher lows in the short-term price. Both RSI and price respect their short-term support trend lines. As long as this holds, we should expect price to move towards the red trend line resistance and the blue rectangle target area where the 61.8% Fibonacci level and the red downward sloping trend line meet. Short-term support is found at 1.1310-1.1330 while resistance is at 1.1370 and next at 1.1410.
The material has been provided by InstaForex Company – www.instaforex.com
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