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

12.02.201909:25 Forex Analysis & Reviews: Trading recommendations for the EURUSD currency pair - placement of trading orders (February 11)

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.

By the end of the trading week, the Euro / Dollar currency pair again showed extremely low volatility of 30 points, but the overall plan has not yet changed for the downward movement. From the point of view of technical analysis, we have a stable downward movement with a starting value of 1.1515, where traders are confidently directed towards the main range level of 1.1280 / 1.1300, which, in principle, has almost happened. The news background over the past weekend did not have any attacks. British Prime Minister Theresa May promises new debates on Brexit, waiting for a chance to negotiate with EU officials. There is almost no time left until the day "X" because Britain leaves the European Union in less than 47 days (March 29). Meanwhile, voting in the Parliament regarding the Brexit agreement is postponed from the current week to an unspecified date.

Exchange Rates 12.02.2019 analysis

Further development

Analyzing the current trading schedule, we see how earlier forecasts are performed on the trading schedule. The quotation still managed to touch the range level 1.1280 / 1.1300, where it already feels a certain point of support. It is likely to assume that the current coordinates in the face of the level of 1.1280 / 1.1300 will try to keep the quote and bring some kind of corrective movement to the market. In turn, traders lead their short positions to the finish line, which they still kept from breaking through the level of 1.1440. Another part of the traders will have to wait a little bit longer, tracking the foothold for the breakdown, while holding a much smaller part of the position in the market.

Based on the data available, it is possible to decompose a number of variations, let's consider them:

Exchange Rates 12.02.2019 analysis

- Buy positions are considered in the case of working out the range level 1.1280 / 1.1300 and price fixing is higher than 1.1340

- We consider selling positions in case of a clear price fixing lower than 1.1270.

Indicator Analysis

Analyzing a different sector of timeframes (TF ), we see that in the short term, there has been an upward interest against the background of the initial testing of the range level. Intraday and mid-term perspective preserves the descending interest against the general background of the movement.

Exchange Rates 12.02.2019 analysis

Weekly volatility / Measurement of volatility: Month; Quarter; Year

Measurement of volatility reflects the average daily fluctuation , with the calculation for the Month / Quarter / Year.

(February 11 was based on the time of publication of the article)

The current time volatility is 44 points. It is likely to assume that the volatility of the day will be lower than the average daily indicator, referring to earlier statistics and the possibility of a temporary stagnation within the range level.

Exchange Rates 12.02.2019 analysis

Key levels

Zones of resistance: 1.1350 *; 1.1440; 1.1550; 1.1650 *; 1.1720 **; 1.1850 **; 1.2100.

Support areas: 1.1300 **; 1.1214 **; 1.1120; 1.1000

* Periodic level

** Range Level

Gven Podolsky
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