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4-hour timeframe

Exchange Rates 11.07.2018 analysis

Technical data:

Senior channel of linear regression: direction - down.

The younger channel of linear regression: the direction is up.

The moving average (20; flattened) is up.

СCI: 67.1870

The currency pair EUR / USD on July 9 worked perfectly Murray level "5/8" and began a downward correction. Mario Draghi did not say anything super important on his speech yesterday, emphasizing the importance and significance of the quantitative incentive program for stabilizing the economy and increasing inflation. Today, on July 10, no important reports and speeches are being planned in the European Union and the United States. Thus, the volatility of the trading instrument may remain low (if Donald Trump does not present any surprises), and the main factors affecting the pair will be technical ones. Proceeding from this, the correction may continue for the purpose of moving, and the signal to its completion may be the turn of the indicator of Heikin Ashi upward. A strong overbought of the CCI indicator has already begun to be developed. The younger linear regression channel turned upward and now supports the bulls in the medium term.

Nearest support levels:

S1 = 1.1719

S2 = 1.1658

S3 - 1,1597

Nearest resistance levels:

R1 = 1.1780

R2 - 1.1841

R3 = 1,1902

Trading recommendations:

The currency pair EUR / USD began to be corrected. Therefore, today it is recommended to expect the completion of the correction, after which to open new long lines with a target of 1,1780. The color of 1-2 bars in the purple color will indicate the end of the downward correction.

It is recommended to open the sell orders after the bear has crossed the moving middle line with the target of 1,1658. In this case, the tool will have a chance to resume the downtrend.

In addition to the technical picture, one should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The upper channel of linear regression is the blue lines of unidirectional motion.

The lowest linear regression channel is the violet lines of unidirectional motion.

CCI - the blue line in the indicator window.

Moving average (20; smoothed) - the blue line on the price chart.

Levels of Murray - multi-colored horizontal stripes.

Heikin Ashi is an indicator that color bars in blue or purple.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Paolo Greco,
Analytical expert
InstaForex Group © 2007-2018
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