EUR/USD’s upward movement from 1.3477 extended to as high as 1.3915. Key support is at the upward trend line in 4-hour chart. As long as the trend line support holds, the uptrend could be expected to continue after a minor consolidation and next target would be in the 1.4000 area. In the H4 chart, oscillators are giving a sell indication. We could expect the price to come down before it moves further. Only a clear break below the trend line support could signal the completion of the uptrend.
Recommendations-
Sell below 1.3852 with targets at 1.3844, 1.3834, 1.3811, and 1.3778.
Buy above 1.3898 with targets at 1.3915 and 1.40.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD’s
upward movement from 1.3477 extended to as high as 1.3915. Key support is at the upward trend line in 4-hour chart. As long as the trend line
support holds, the uptrend could be expected to continue after a minor
consolidation and next target would be in the 1.4000 area. In the H4 chart,
oscillators are giving a sell indication. We could expect the price to come down
before it moves further. Only a clear break below the trend line support could
signal the completion of the uptrend.
Recommendations-
Sell
below 1.3852 with targets at 1.3844, 1.3834, 1.3811, and 1.3778.
Buy
above 1.3898 with targets at 1.3915 and 1.40.
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