Technical analysis of EUR/USD for 21/01/2019
January 21, 2019 8:25 amVideo
Latest News
- Video market update for April 23, 2024 April 23, 2024
- Trading Signals for EUR/USD for April 23-25, 2024: buy above 1.0681 (21 SMA – 3/8 Murray) April 23, 2024
- Analysis for the EUR/USD pair on April 23rd. Euro currency prepares for another decline April 23, 2024
- Analysis for the GBP/USD pair on April 23rd. Sellers failed to take the mark of 1.2313 on the first attempt April 23, 2024
- Technical Analysis – AUDUSD gears up after disappointing US PMIs April 23, 2024
- Technical Analysis – Meta stock falls below 50-SMA ahead of earnings April 23, 2024
- USD/JPY: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- GBP/USD: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- Technical Analysis – USDJPY fights with new 34-year high April 23, 2024
- EUR/USD: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- Alphabet Q1 Earnings: Strong ad business but AI initiatives lag – Stock Markets April 23, 2024
- GBP/USD: trading plan for the US session on April 23rd (analysis of morning deals). The pound continues to decline April 23, 2024
- EUR/USD: trading plan for the US session on April 23rd (analysis of morning deals). The euro has shown rapid growth April 23, 2024
- EUR/USD. April 23rd. Bulls and bears are in balance April 23, 2024
- GBP/USD. April 23rd. The bears continue to attack April 23, 2024
- Gold edges lower as Middle East tensions ease April 23, 2024
- Slightly lower volatility across the board ahead of key US data – Volatility Watch April 23, 2024
- Technical Analysis – UK 100 index hits new all-time highs but rally may be cooling April 23, 2024
- XM Teams up with ‘Charity Right’ for Change April 23, 2024
- Technical Analysis – US 500 index rebounds off 2-month low below 5,000 April 23, 2024
The Risig Wedge price parent that might have been in development between the levels of 1.3171 – 1.1400 has been invalidated. The reason was a very shallow rally towards the nearest technical resistance at the level of 1.1414 that was terminated by the Shooting Star candlestick pattern with a top at the level of 1.1400. Since then the market started to reverse and the next candle has broken below the technical support zone of 1.1371 – 1.1380 with ease and made a new local low at the level of 1.1352. The price has been trying to bounce, but it is still trading below the orange trend line, right at the technical resistance at the level of 1.1380.
Despite the oversold market conditions the bears still have the chance to push the price lower towards the level of 1.1342 – 1.1324 support. As long as the price is trading below the orange trend line, this scenario remains in play.
Recommendations:
Sell order should be in play as long as the orange trend line is not violated. The targets for shorts are seen at the levels of 1.1342, 1.1336, 1.1330 and 1.1324 (big technical support zone marked in green).
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: