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

18.03.201908:41 Forex Analysis & Reviews: Technical analysis of EUR/USD for 18/03/2019

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 has been moving inside of the horizontal zone just above the 61% Fibonacci retracement at the level of 1.1326, bouncing from 50% Fibonacci retracement at the level of 1.1298 to the local resistance at the level of 1.1344. The market conditions are now overbought and there is a bearish divergence forming in this time frame between the price and the momentum indicator, so the bulls might be losing this battle despite the positive and quite strong RSI. The next technical resistance is seen at the level of 1.1353 and the nearest important support is seen at the level of 1.1294 and then at 1.1284. Please notice, that the recent move up from the level of 1.1176 is considered to be a corrective bounce in a downtrend.

Weekly Pivot Points:

WR3 - 1.1502

WR2 - 1.1422

WR1 - 1.1372

Weekly Pivot - 1.1287

WS1 - 1.1251

WS2 - 1.1168

WS3 - 1.1131

Trading recommendations:

The market is still trading around the level of 61% Fibo, so the battle is still going on and due to the fact that this is a corrective bounce in the downtrend, the bias should be to the downside and only sell orders should be opened. The entry level should be as close as possible to the level of 1.1353 with a tight protective stop loss and the first take profit level is seen at 1.1249.

Exchange Rates 18.03.2019 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