Technical analysis for EUR/USD for January 8, 2019
January 8, 2019 10:24 am
EUR/USD once again reached the upper trading range boundary around 1.1470-1.1480 and got rejected. Price is now pulling back towards 1.1430. Trend remains neutral as we continue to move inside the 1.1475-1.1270 range.
Green line – trend line support
Red dots – maximum strength resistance level
Blue dots- medium strength Support level
Short and medium-term resistance remains at 1.1470-1.1485 area. Support is at 1.14-1.1390. Breaking below this level will open the way for a move towards the green trend line support at 1.1310. Breaking above the resistance of 1.1480 would open the way for a move towards 1.17. If support at 1.13 fails to hold, we should expect price to move below 1.12.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD once again reached the upper trading range boundary around 1.1470-1.1480 and got rejected. Price is now pulling back towards 1.1430. Trend remains neutral as we continue to move inside the 1.1475-1.1270 range.
Green line – trend line support
Red dots – maximum strength resistance level
Blue dots- medium strength Support level
Short and medium-term resistance remains at 1.1470-1.1485 area. Support is at 1.14-1.1390. Breaking below this level will open the way for a move towards the green trend line support at 1.1310. Breaking above the resistance of 1.1480 would open the way for a move towards 1.17. If support at 1.13 fails to hold, we should expect price to move below 1.12.
The material has been provided by InstaForex Company – www.instaforex.com
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