empty
 
 
11.02.2019 07:58 AM
Technical analysis of EUR/USD for 11/02/2019

Technical market overview:

The EUR/USD pair is continuing the move down as it just closed below the key technical support zone between the levels of 1.1324 - 1.1336 with a low at 1.1320. This is not a good sign for bulls at the beginning of the new trading week as the bearish pressure is still continuing. The next target for the price is seen at the level of 1.1284 - 1.1289.

Due to the bullish divergence building at this time frame, there is s possibility of a horizontal move for some time before the short-term downtrend will continue. The levels to watch for the resistance are 1.1350 and 1.1360.

Weekly Pivot Points:

WR3 - 1.1528

WR2 - 1.1495

WR1 - 1.1390

Weekly Pivot - 1.1351

WS1 - 1.1247

WS2 - 1.1212

WS3 - 1.1101

Trading recommendations:

Due to the downtrend continuation, the traders should open only sell orders as close as possible to the level of 1.1350 with a target at the level of 1.1284.

This image is no longer relevant

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 $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