Technical analysis for EUR/USD for March 15, 2019 888011000 110888 EUR/USD has drawn back towards 1.13 which is essential short-term assistance therefore far it holds above this level. There are some bearish turnaround signs in the short-term 4-hour chart but we will require more indications of weak point to validate the reversal. Red line -major resistance trend line Blue lines -support pattern lines Green line -assistance Orange rectangular shape-resistance location EUR/USD has stopped its increase inside the orange rectangle resistance area. This is where we likewise discover the 61.8%Fibonacci retracement level. EUR/USD has drawn back towards the short-term support of 1.13-1.1290 we pointed out the other day and continues to trade above it at the exact same time not plainly breaking below the blue upward sloping trend line. The RSI has broken through the blue assistance pattern line. For this reversal to be validated bears require to see a lower low both in price and in the RSI. For that reason bulls must protect 1.1293. A four close listed below this level might press rate towards 1.1240 or lower. I remain bearish as long as rate is below the red resistance pattern line.The material has been provided by InstaForex

By | March 15, 2019

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