empty
 
 
19.02.2019 10:06 AM
Technical analysis for EUR/USD for February 19, 2019

EUR/USD visited again our first bounce target area and 38% Fibonacci retracement. This area of 1.1340-1.1350 is important short-term resistance. Breaking above it will open the way for a move towards 1.14.

This image is no longer relevant

Green line - trend line support

Red line - major trend line resistance

Blue rectangle - short-term resistance

Black rectangle - bounce target if blue rectangle is broken

Black lines - bullish divergence

EUR/USD bounced again as expected but price only managed to reach the 38% Fibonacci retracement level. Bulls need to break above the blue rectangle in order to hope for a bigger bounce towards 1.14. The RSI continues to provide a bullish divergence while being supported and making higher highs and higher lows. We are in a consolidation/correction phase and I would prefer to be neutral or bullish, waiting for higher levels to try a short position, where risk reward is better. For the medium-term trend to change price would need to recapture 1.15 and stay above it.

Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback