You are here: Home > articles > Forex > Intraday technical levels and trading recommendations for EUR/USD for April 7, 2014
Intraday technical levels and trading recommendations for EUR/USD for April 7, 2014
April 7, 2014 1:10 pmVideo
Latest News
- EUR/USD: Simple trading tips for novice traders on May 28th (US session) May 28, 2024
- GBP/USD: trading plan for the US session on May 28th (analysis of morning deals). The pound hit a new monthly high May 28, 2024
- EUR/USD: trading plan for the US session on May 28th (analysis of morning deals) May 28, 2024
- USD/JPY: trading tips for beginners for European session on May 28 May 28, 2024
- Forex forecast 05/28/2024: EUR/USD, USD/JPY, Gold, Ethereum and Bitcoin from Sebastian Seliga May 28, 2024
- EUR/USD. May 28th. The bulls intend to reach the level of 1.1000 May 28, 2024
- Trading plan for EUR/USD on May 28. Simple tips for beginners May 28, 2024
- GBP/USD. May 28th. The pound sees no reason to stop at its current level May 28, 2024
- USD/JPY: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Video market update for May 28, 2024 May 28, 2024
- GBP/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- EUR/USD: Simple trading tips for novice traders on May 28th. Analysis of yesterday’s forex transactions May 28, 2024
- Low volatility across the board besides Bitcoin – Volatility Watch May 28, 2024
- Technical Analysis – EURCHF pulls back from 14-month peak May 28, 2024
- USA and Europe: market trends during the holidays May 28, 2024
- Market Comment – Euro takes advantage of weak dollar May 28, 2024
- Technical Analysis – EURJPY advances towards 40-year high May 28, 2024
- Technical Analysis – GBPUSD challenges new 2-month high May 28, 2024
- Technical Analysis of Intraday Price Movement of Silver Commodity Asset, Tuesday May 28, 2024. May 28, 2024
- Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Tuesday May 28, 2024. May 28, 2024
Daily fixation below 1.3870 gathered enough bearish pressure to push towards the recent demand zone around 1.3700.
Thus, the EUR/USD pair established a new supply level at 1.3845. It rejected the bulls on March 24 strongly so any further visits should be considered for selling.
At the end of the previous week, there has been an intraday demand level expressed at 1.3700 which paused the recent slide off 1.3965 pushing again towards 1.3800.
The price level of 1.3820 corresponds to previous significant tops. Bearish rejection was expressed at retesting that took place last week.
That’s why, bearish pressure is being applied on price level of 1.3700 to get broken this time.
The price zone of 1.3830-1.3850 remains a significant supply zone. It provided a valid sell entry at the previous retesting on March 24.
On the other hand, as expected, failure to fix above 1.3790 exposed the recent low established at 1.3700 to be retested again which is taking place today.
Four-hour candlestick fixation below which opens the way towards lower lows to be visited at 1.3655 ( Fibonacci Expansion 100% ) and 1.3580.
Please note that the uptrend line comes to meet the pair roughly at 1.3700-1.3680 which acquires this level a significant importance as an intraday support.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: