For Traders

Analytical Reviews

Technical analysis

21.03.201908:26 Forex Analysis & Reviews: Technical analysis of EUR/USD for 21/03/2019

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:

We finally have an important movement at the EUR/USD market as the price has broken above the technical resistance zone located between the levels of 1.1405 - 1.1429 and made a new high at the level of 1.1447. Currently, the price is testing the zone from above and the up move might be continued as long as there is not price or candlestick reversal pattern. The next target is seen at the level of 1.1483 and 1.1500.

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 recent news driven spike up has blurred the picture and the bearish bias has been invalidated as the price might be making another leg up in the bigger corrective move. As long as the level of 1.1361 is not clearly violated again, global investors should open long orders during the local pullbacks.

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.