EUR/USD: Support and resistance levels
18/02/2019
At the beginning of the European trading session, the EUR / USD pair is trading above the support level of 1.1300, attempting to break the short-term resistance level of 1.1320 (EMA200 on the 1-hour chart).
The indicators OsMA and Stochastic on the 1-hour, 4-hour, daily charts turned to long positions.
In case of a breakdown of the resistance level and continued growth, EUR / USD will be able to reach the next important resistance level of 1.1375 (EMA200 on the 4-hour chart, EMA50 on the daily chart).
The maximum correctional growth is possible to the key resistance levels of 1.1480 (EMA144 on the daily chart), 1.1530 (EMA200 on the daily chart). Above the resistance level of 1.1530, growth is unlikely against the background of strong fundamental factors indicating the slowdown of the European economy and the acceleration of the American economy.
The dollar remains the preferred currency. Downward dynamics prevail. Short positions are preferred.
In case of resumption of decline and after the breakdown of the support level of 1.1285 (Fibonacci 23.6% of the correction to the fall from the level of 1.3900, which began in May 2014), the reduction targets will be the support levels of 1.1270 (December lows), 1.1215 (November and year lows), 1.1200, 1.1000 (bottom line of the downward channel on the weekly chart).
Today is a public holiday on the occasion of President’s Day The exchanges will be closed, trading volumes will be small.
Probably, until the end of today's trading day, the EUR / USD pair will remain trading near the current levels and the support level of 1.1300. Breakdown of the resistance level of 1.1320 today is unlikely due to the lack of important news drivers and low trading volumes.
*)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics
Support Levels: 1.1300, 1.1285, 1.1215, 1.1120, 1.1000
Resistance Levels: 1.1320, 1.1375, 1.1480, 1.1530
Trading recommendations
Sell Stop 1.1290. Stop Loss 1.1335. Take-Profit 1.1215, 1.1120, 1.1000
Buy Stop 1.1335. Stop Loss 1.1280. Take-Profit 1.1375, 1.1480, 1.1530
*) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
18/02/2019
At the beginning of the European trading session, the EUR / USD pair is trading above the support level of 1.1300, attempting to break the short-term resistance level of 1.1320 (EMA200 on the 1-hour chart).
The indicators OsMA and Stochastic on the 1-hour, 4-hour, daily charts turned to long positions.
In case of a breakdown of the resistance level and continued growth, EUR / USD will be able to reach the next important resistance level of 1.1375 (EMA200 on the 4-hour chart, EMA50 on the daily chart).
The maximum correctional growth is possible to the key resistance levels of 1.1480 (EMA144 on the daily chart), 1.1530 (EMA200 on the daily chart). Above the resistance level of 1.1530, growth is unlikely against the background of strong fundamental factors indicating the slowdown of the European economy and the acceleration of the American economy.
The dollar remains the preferred currency. Downward dynamics prevail. Short positions are preferred.
In case of resumption of decline and after the breakdown of the support level of 1.1285 (Fibonacci 23.6% of the correction to the fall from the level of 1.3900, which began in May 2014), the reduction targets will be the support levels of 1.1270 (December lows), 1.1215 (November and year lows), 1.1200, 1.1000 (bottom line of the downward channel on the weekly chart).
Today is a public holiday on the occasion of President’s Day The exchanges will be closed, trading volumes will be small.
Probably, until the end of today's trading day, the EUR / USD pair will remain trading near the current levels and the support level of 1.1300. Breakdown of the resistance level of 1.1320 today is unlikely due to the lack of important news drivers and low trading volumes.
*)An advanced fundamental analysis is available on the Tifia Forex Broker website at tifia.com/analytics
Support Levels: 1.1300, 1.1285, 1.1215, 1.1120, 1.1000
Resistance Levels: 1.1320, 1.1375, 1.1480, 1.1530
Trading recommendations
Sell Stop 1.1290. Stop Loss 1.1335. Take-Profit 1.1215, 1.1120, 1.1000
Buy Stop 1.1335. Stop Loss 1.1280. Take-Profit 1.1375, 1.1480, 1.1530
*) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com