For Traders

Analytical Reviews

Technical analysis

07.03.201912:32 Forex Analysis & Reviews: EUR/USD analysis for March 07, 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.

EUR/USD has been trading upwards as we expected. The price tested the level of 1.1324.

As we advised yesterday, the breakout of the 1.1310 did confirm the further rally on EUR/USD. A selling climax in the background followed by sideways movement is a sign that sellers lost power and that support at 1.1290 held successfully. Besides, the bullish divergence on the Stochastic oscillator is present, which is another sign of potential strength. Resistance levels are seen at 1.1338 and 1.1380.

Trading recommendation: We are long EUR from 1.1315 with targets at 1.1338 and 1.1380. Protective stop is placed at 1.1284

Back to the list

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.