For Traders

Analytical Reviews

Technical analysis

27.03.201713:12 Forex Analysis & Reviews: Technical analysis of EUR/USD for March 27, 2017

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.

Overview:

The EUR/USD pair will continue to rise from the level of 1.0792 in the long term. It should be noted that the support is established at the level of 1.0792 which represents the 78.6% Fibonacci retracement level on the H4 chart. The price is likely to form a double bottom in the same time frame. Accordingly, the EUR/USD pair is showing signs of strength following a breakout of the highest levels of 1.0792 and 1.0828. So, buy above the level of 1.0828 with the first target at 1.0873 in order to test the daily resistance 1 and further to 1.0925. Also, it might be noted that the level of 1.0950 is a good place to take profit because it will form a double top around the spot of 1.0950. On the other hand, in case a reversal takes place and the EUR/USD pair breaks through the support level of 1.0792, a further decline to 1.0728 can occur which would indicate a bearish market.

Daily key levels:

Major resistance:1.0950
Minor resistance:1.0873 | 1.0825
Intraday pivot point:1.0828
Minor support:1.0792
Major support:1.0728 | 1.0683

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.