empty
 
 
26.10.2018 08:44 AM
Technical analysis of EUR/USD for October 26, 2018

EUR/USD as expected back tested the previous support now resistance area of 1.1430-1.1450 and got rejected. Prices made a new lower low at 1.1355. We have the first divergence signs in the 4-hour chart.

This image is no longer relevant

Red rectangle - resistance area

Orange dots - medium strength resistance

Red dots - maximum strength resistance

EUR/USD continues to make lower lows and lower highs from the 1.1620 area. Trend remains bearish. Only a break above the orange dots and the red rectangle area will change short-term trend. This resistance is at 1.1430-1.1450. Support is at the recent low at 1.1355. Bears should protect their profits as they do not want to see prices break above the red area.

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 $9000 more!
    In May we raffle $9000 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