empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

12.02.201911:04 Forex Analysis & Reviews: Technical analysis of EUR/USD for 12/02/2019

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Technical market overview:

The EUR/USD pair had made another lower low at the level of 1.1257 after the technical support at the level of 1.1266 was violated. The market is still decreasing lower and the next target is seen at the level of 1.1239 despite the extremely oversold market conditions.

Due to the bullish divergence building at this time frame, there is s possibility of a horizontal move for some time before the short-term downtrend will continue. The levels to watch for the resistance are 1.1321 - 1.1336.

Weekly Pivot Points:

WR3 - 1.1528

WR2 - 1.1495

WR1 - 1.1390

Weekly Pivot - 1.1351

WS1 - 1.1247

WS2 - 1.1212

WS3 - 1.1101

Trading recommendations:

All the sell orders from yesterday's recommendation have hit the take profit level at 1.1289, so well done for all that took these positions. Currently, due to the downtrend continuation, the traders should open only sell orders as close as possible to the level of 1.1289 with a target at the level of 1.1239.

Exchange Rates 12.02.2019 analysis

Sebastian Seliga
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off