empty
 
 
05.03.2019 08:56 AM
Technical analysis for EUR/USD for March 5, 2019

EUR/USD has moved lower towards the 61.8% Fibonacci retracement support of the recent rise from 1.1235 to 1.1420. The support at 1.1305 is important and holding above it keeps the hopes of bulls alive for another leg higher above 1.1420.

This image is no longer relevant

Red line - major trend line resistance

Green line - support trend line

EUR/USD is trading around 1.1330 and it is vulnerable to a move lower towards 1.12 as long as price is below 1.1430 and the red trend line resistance. Short-term support is at 1.13 and next at 1.1275. Breaking below these two levels will open the way for a move lower towards 1.12. Resistance is found at 1.1380 and next at 1.1420. Bulls need to hold the 1.13 level otherwise the chances of moving towards 1.15 will decrease dramatically.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $1000 more!
    In April we raffle $1000 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