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

02.02.201512:10 Forex Analysis & Reviews: Weekly technical levels for EUR/USD for February 2-6, 2015

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.
The weekly technical levels for EUR/USD pair
Exchange Rates 02.02.2015 analysis
Exchange Rates 02.02.2015 analysis
Overview:
  • The major level of the EUR/USD pair has been set at the level of 1.1270. This level is acting as strong support today and it coincides with the ratio of 50% of Fibonacci retracement levels on the H1 chart. Therefore, the first key level will be set at the level of 1.1268 (the weekly pivot point). Furthermore, the trend was very clear and was indicating an uptrend in the short term. Thus, we expect that the trend is going to call for a bullish market at the level of 1.1270 because buyers are bidding for a lower price. As a result, buy at the price of 1.1270 with the target of 1.1422 in order to test the double bottom. Moreover, the price is going to continue toward the level of 1.1439. Also, it should be noted that the level of 1.1439 represents the weekly resistance 1.
Mourad El Keddani
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