empty
 
 
13.03.2015 11:42 AM
Intraday technical levels and trading recommendations for EUR/USD for March 13, 201

This image is no longer relevant

The market has been pushing lower aggressively after breaking below the major demand levels around 1.2100 and 1.2000 where historical bottoms were previously established back in July 2012 and June 2010.

The EUR/USD pair has lost almost 1400 pips since the beginning of 2015. The EUR/USD pair is pushing further below a significant twelve-year low around 1.0900 ( September 2003 low ).

Theoretical long-term bearish targets are likely to be located near 0.9450, especially after two bearish monthly closures below 1.2000 (January and February's candlesticks).

This image is no longer relevant

A bearish Flag pattern was established on the daily chart. The daily fixation below the price level of 1.1260 (minor consolidation range) confirmed that bearish pattern.

The obvious bearish breakdown of the weekly demand level at 1.1100 exposed lower targets around 1.0800.

Bearish persistence below 1.1100 (broken weekly low) enhanced the bearish side of the market.

Projection targets for the Flag pattern would be located around 1.0800 (already breached) and 1.0500 (yet to come).

On the other hand, conservative traders can wait for a bullish pullback towards 1.1100 (nearest supply level) for a low-risk sell position with Stop loss to be located above 1.1130.

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • 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 June 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

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback