Technical analysis of EUR/USD for February 19, 2014
February 19, 2014 6:25 am
In the hourly chart, EUR/USD is trading at 1.3760. RSI gives an overbought indication. Prices are holding above the 21 and 40 DEMA that is a bull factor. If the price breaks 1.3742, weakness persists in the intraday trading session towards downside. We can expect the selling pressure to start soon.
R1 1.3813
R2 1.3820
Recommendation-
1- Sell below 1.3742 target 1.3720 and 1.3695.
2- If any rise happens, sell at 1.3813 and 1.3820.
If the price breaks 1.3695, next support comes at 1.3620 and 1.3585.
The material has been provided by InstaForex Company – www.instaforex.com
In the hourly chart, EUR/USD is trading at 1.3760. RSI gives an overbought indication. Prices are holding above the 21 and 40 DEMA that is a bull factor.
If the price breaks 1.3742, weakness persists in the intraday trading
session towards downside. We can expect the selling pressure
to start soon.
R1 1.3813
R2 1.3820
Recommendation-
1- Sell below 1.3742 target 1.3720 and 1.3695.
2- If any rise happens, sell at 1.3813 and 1.3820.
If the price breaks 1.3695, next support comes at 1.3620 and 1.3585.
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