Technical analysis of EUR/USD for August 29, 2018
August 29, 2018 8:23 amVideo
Latest News
- Will the euro manage to save itself? April 17, 2024
- Analysis for GBP/USD on April 16th. The pound should not count on support from Powell April 16, 2024
- Analysis for EUR/USD on April 16th. The southern trend has been put on pause for correction April 16, 2024
- USD/JPY: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- GBP/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- Trading Signals for GBP/USD for April 16-18, 2024: buy above 1.2405 or 1.2450 (21 SMA – 0/8 Murray) April 16, 2024
- EUR/USD: Simple trading tips for novice traders on April 16th (US session) April 16, 2024
- AUD/USD: Australian dollar remains under pressure April 16, 2024
- GBP/USD: trading plan for the US session on April 16th (analysis of morning deals). The pound was quickly bought back around April 16, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 16-18, 2024: buy above $62,500 (4/8 Murray – 21 SMA) April 16, 2024
- Technical Analysis – USDCAD blossoms ahead of central bank speeches April 16, 2024
- EUR/USD: trading plan for the US session on April 16th (analysis of morning deals). Fewer people are willing to sell euro April 16, 2024
- EUR/USD. April 16th. Bears continue to advance against the backdrop of strong US statistics April 16, 2024
- Euro, sterling extend weakness April 16, 2024
- GBP/USD. April 16th. British statistics didn’t capture traders’ attention April 16, 2024
- Technical Analysis – EURCHF ticks up after strong losses April 16, 2024
- Technical Analysis – JP 225 index tests crucial support zone April 16, 2024
- Market Comment – Stocks slide, dollar soars as rate cut bets take another hit April 16, 2024
- Forex forecast 04/16/2024: EUR/USD, USDX, Gold and SP500 from Sebastian Seliga April 16, 2024
- GBP/USD: trading tips for beginners for European session on April 16 April 16, 2024
EUR/USD has reached the 1.1730 previous resistance area and pulled back as expected. Although trend remains bullish as the price remains inside a bullish channel, we warned yesterday that the RSI was giving bearish divergence signs and that a pullback should be expected.
Green lines – bullish channel
Blue line – bearish divergence
EUR/USD has short-term support at 1.1650 at the lower channel boundary. If this level is broken, we should expect the prices to continue lower towards 1.1570 where we find the 38% Fibonacci retracement of the entire rise from 1.13. If this level is broken too, we should then expect EUR/USD to fall as far as the 61.8% Fibonacci retracement which is the next important support. Another break above 1.1730 will be a very bullish sign specially if accompanied by a new RSI high in the 4 hour chart. This will increase dramatically the chances that low at 1.13 is a major low. If however, the price makes new high with bearish RSI divergence, bulls should be very cautious as the market will be preparing for a deeper pullback.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: