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

26.03.202015:12 Forex Analysis & Reviews: EURUSD breaking resistance levels eyeing 1.11.

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 has broken short-term resistance at 1.08-1.0830 and has reached our first target of 1.0930 as we explained in our previous analysis. Now price is even higher trying to approach 1.1030.

Exchange Rates 26.03.2020 analysis

Red line -resistance trend line

Green line - short-term support trend line

The entire decline from 1.1495 to 1.0637 is over. Now we see a new move. A move higher. If this is just a counter trend bounce, we should see a rejection at the 38% or 61.8% Fibonacci retracement levels. The green support trend line is respected so far. Support is at 1.0870. Next resistance is at 1.1068 (50% Fibonacci retracement) and at 1.1168 (61.8% retracement).

Exchange Rates 26.03.2020 analysis

The weak bullish signal where the tenkan-sen (red line indicator) crossed above the kijun-sen (green line indicator) was given at 1.0843. At the same time when our resistance area of 1.08-1.0830 was broken. Price continued higher towards cloud resistance as expected. Price has now entered the cloud and is expected to test the upper cloud boundary at 1.1065-1.1030. If cloud resistance fails to contain prices, we should expect more upside above 1.11 to be seen.
Alexandros Yfantis
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