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Obchodní podmínky
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4-hour timeframe
Technical details:
The senior linear regression channel: direction - sideways.
The younger linear regression channel: direction - down.
Moving average (20; smoothed) - down.
CCI: -141.9747
The EUR / USD instrument on Friday, October 19, continues its downward movement. After it became known about the failure of the next negotiations between the EU and Britain regarding the conditions of Brexit, and pound sterling, and euro currency remain under market pressure. However, the European currency may in the near future cease to experience the pressure of traders, since it has never reacted at all to any events concerning Brexit. It was in the last days, which could be key for the whole Brexit procedure, that traders sold the euro due to expectations of failure of negotiations. However, in the near future, this topic may lose its relevance to the market. Even after the failure of the negotiations, the EU and British leaders again made optimistic statements that they hoped to reach an agreement. Jean Claude Juncker said that he considered Brexit dangerous without a deal. May is of the same opinion. However, the markets have clearly lost optimism. On the last trading day of the week, the calendar of macroeconomic events in the EU and the USA does not contain anything interesting and remarkable. From a technical point of view, the "Regression Channels" system clearly indicates a downward movement and no correction. Some oversold indicator CCI warns of a possible beginning of the correction.
Nearest support levels:
S1 - 1,1475
S2 - 1,1414
S3 - 1.1353
Nearest resistance levels:
R1 - 1.1536
R2 - 1.1597
R3 - 1.1658
Trading recommendations:
The EUR / USD currency pair continues to move downward, so it is now recommended to stay in short positions with a target of 1.1414. A reversal of the Heikin Ashi indicator to the top will signal the turn of the corrective movement and will serve as a signal to close the sell position.
Orders for the purchase can be considered no earlier than traders overcome the moving average line. In this case, the trend in the instrument will again change to ascending, and the first target will be the level of 1.1597.
In addition to the technical picture should also take into account the fundamental data and the time of their release.
Explanations for illustrations:
The senior linear regression channel is the blue lines of the unidirectional movement.
The junior linear regression channel is the purple lines of unidirectional movement.
CCI - blue line in the indicator window.
The moving average (20; smoothed) is the blue line on the price chart.
Murray levels - multi-colored horizontal stripes.
Heikin Ashi is an indicator that colors bars in blue or purple.
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