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EURUSD Technical Overview And Levels to Watch

EURUSD Technical Overview And Levels to Watch

  • EURUSD started day recovering its loses, Shuffling back towards 1.1390
  • Markets are waiting for volumes.
  • The economic calendar is clear for Thursday, with no European data slated to drop for the day.

Technicals:

  • The pair is below EMA 50 on the H4 Chart. Technical indicators are still bearish.
  • The pair stuck in a triangle. The direction of the breakout will determine the near term direction of the pair.
  • The pair must break 1.14130 to continue its bullish move. If the pair breaks above 1.14130, it is likely to test 1.14780 and 1.15100. – The target of the pattern is 1.15300 –
  • On the downside 1.13300 is the key support. A Break below 1.13300 will carry the price 1.12700 and 1.12200.

Markets are thin and liquidity is low. I recommend trading with smaller lots.

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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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