20.03.201504:36 Forex Analysis & Reviews: Technical analysis and trading recommendation of EUR/USD for March 20, 2015

Long-term review

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The US dollar grabs its leadership position at the yesterday's session. The US dollar regained against the euro what it lost after the FOMC meeting. At the yesterday's session, we advised the bearish view again. Eventually, the euro looks weak against USD. We have been recommending to trade with the target at 0.9000 for the last three weeks. Parallel support is seen at 1.0335. We still recommend the same selling strategy. The pair managed to close below hourly moving averages on the H1. Today, during the early Asian session, the euro is trading higher against USD, JPY, GBP, and AUD. The pair's weekly parallel resistance is seen at 1.1098. We have been recommending to trade with the target at 0.9000 for the last three weeks. Parallel support is seen at 1.0335. For an intraday trade, we recommend selling below 1.0600 with targets at 1.0580, 1.0550, 1.0500, and 1.0460. Intraday resistance is seen at 1.0720 and support is likely to be found at 1.0610. At the yesterday's session, we recommended safe buying only above 1.1100; risky traders can buy above 1.1050. Sell below 1.0820. Buying not triggered, but selling trade gave almost 200 pips.

Support: 1.0610, 1.0580, 1.0463

Resistance: 1.0690, 1.0720, 1.0740

Trade: selling below 1.0600

Buying above 1.0720,

To contact the author

of this analysis, please email- joseph.wind@analytics.instaforex.com

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