Technical analysis of EUR/USD for 29/01/2019
January 29, 2019 8:22 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
After hitting the technical support at the level of 1.1289 the price made a V-shape reversal (with a help of the ECB interest rate decision) and six green candles were made towards the technical resistance at the level of 1.1414. The market has hit broke through the resistance and went even higher, towards the 50% Fibo at 1.1429 and this level was cleared as well. The next target for bulls is the 61% Fibonacci retracement at the level of 1.1462, just above the local technical resistance at the level of 1.1449. The market conditions are now overbought, but the momentum is strong and positive and no price reversal pattern was spotted yet.
Please notice, this move up is being considered as a local correction up in an ongoing downtrend, and not as a separate trend up.
Weekly Pivot Points:
WR2 – 1.1506
WR1 – 1.1469
Weekly Pivot – 1.1377
WS1 – 1.1339
WS2 – 1.1268
Trading recommendations:
All buy orders from the lows of the level 1.1300 should be now set to trailing stop as the target is seen at the level of 1.1462. A strong price reaction is expected at the level, so it will be better to close the buy orders there.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: