empty
 
 
16.01.2019 09:09 AM
Technical analysis for EUR/USD for January 16, 2019

EUR/USD fell below 1.14 yesterday towards 1.1380 staying inside the bearish short-term channel we showed yesterday. So far the move above 1.15 looks like a fake break out and we explained, this would mean a move back towards 1.1320.

This image is no longer relevant

Red rectangle - upper trading range boundary (resistance)

Black line - trend line support

EUR/USD has made a strong move upwards from 1.13 to 1.1570 but pulled back soon after. Price did not manage to hold above the red zone where the upper trading range boundary was, and that is why this was a fake breakout. Price has now retraced 61.8% of the upward move from 1.13. This is important short-term support. If it fails to hold and EUR/USD breaks below 1.1380 we should expect price to move towards 1.1320 where the black trend line support is found. Longer-term I remain bullish EUR/USD as long as trade above 1.1270-1.13 but I would like to see more signs of strength in order to be more confident for a bigger reversal. A move above 1.1490 would be such a bullish sign. The creation of a higher low and an upward reversal is what EUR/USD bulls want to see now. On the other hand bears want to see the sequence of lower lows and lower highs continue and eventually break below 1.13-1.1270. This would open the way for a move towards 1.11-1.10.

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $9000 más!
    ¡En Mayo, sorteamos $9000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback