Technical analysis of EUR/USD for March 12, 2018 888011000 110888 Introduction: The EUR/USD pair is still moving between the levels of 1.2260 and 1.2373. The everyday resistance and assistance are seen at the levels of 1.2408 and 1.2442, respectively. Therefore, it is suggested to be mindful while placing orders in this location. So, we have to wait till the sideways channel has actually finished. The market moved from its bottom at 1.2260 and continued to rise to the top of 1.2352. Today, in the one-hour chart, the current rise will remain within a framework of correction. If the pair fails to pass through the level of 1.2404, the market will show a bearish chance below the strong resistance level of 1.2404. Since there is absolutely nothing brand-new in this market, it is not bullish yet. Sell offers are suggested below the level of 1.2404 with the very first target at 1.2295. If the trend breaks the support level of 1.2295, the pair is likely to move down continuing the advancement of a bearish trend to the level of 1.2260 in order to test the double bottom.The product has been provided by InstaForex

By | March 12, 2018

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