For Traders

Analytical Reviews

Technical analysis

17.04.201908:51 Forex Analysis & Reviews: Technical analysis for EURUSD for April 17, 2019

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.

EURUSD as expected made a pull back towards 1.1280 yesterday but it still remains inside the short-term bullish channel. Price is now challenging once again the upper boundary of the bearish medium-term channel.

Blue lines - bullish short-term channel

Green rectangle - major support area

Red line - upper boundary of bearish medium-term channel

Black line - major resistance trend line

EURUSD made a pull back yesterday but it is still trading above 1.13. Price is challenging once again the channel resistance. Support is at 1.1270 and resistance at 1.1310. Price continues to make higher highs and higher lows and if this continues, we could see price move towards 1.1350 and above this week. Breaking below 1.1250 would be a bearish sign.

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.