Site map
العربية Български 中文 Čeština English Français Deutsch हिन्दी Bahasa Indonesia Italiano Bahasa Malay اردو Polski Português Română Русский Srpski Slovenský Español ไทย Nederlands Українська Vietnamese বাংলা Ўзбекча O'zbekcha Қазақша

InstaForex Client Area

  • Personal settings
  • Access to all InstaForex services
  • Detailed statistics and reports on trades
  • Full range of financial transactions
  • System of managing several accounts
  • Maximum data protection

InstaForex Partner Area

  • Full information on clients and commissions
  • Graphic statistics on accounts and clicks
  • Webmaster instruments
  • Ready-made web solutions and wide range of banners
  • High data protection level
  • Company's news, RSS feeds, and forex informers
Register
cabinet icon

InstaForex – always at the forefront!Open a trading account and become a part of the InstaForex Loprais Team!

Success history of the team headed by Ales Loprais can become your success history! Trade confidently and head towards leadership like regular participant of Dakar Rally and winner of Silk Way Rally InstaForex Loprais Team does it!

Join in and win with InstaForex!

Instant account opening

Get a letter of instructions
toolbar icon

Trading Platform

For mobile devices

For trading via browser

Long-term review

The pair is in an uptrend from the level of 1.6465 and facing stiff resistance at the level of 1.66. This resistance level is the highest point on March 17, and for 61.8 Fib level in the H4 chart. Today's traders eye the BOE Governor Carney speech and the Fed's Chairwoman Jannet Yellen speech. Volatility is expected during this session. We do not recommend going long at the current levels. Bulls are back on track only above the level of 1.666 for targets at 1.6718 and 1.6786 immediately. In the H4 chart, RSI favors bears. We expect selling on higher levels is the best strategy in the near term. On the down side, the level of 1.6626, 1.6585, and 1.655 is the immediate targets.

S1 1.6585 R1 1.6666

S2 1.65 R2 1.6718

S3 1.6465 R3 1.6786

Exchange Rates 31.03.2014 analysis

OVERALL:

In the weekly chart, the RSI is travelling downwards. The pair has been in a down trend from the level of 1.6823. It's a lower high and lower low forming in the last 2-week trend in the weekly chart, which was a complete bear view. This view will break once the pair starts trading above the 1.666 level. This pair is trading near the descending trendline. If the pair breaks and trades above the upper purple trading line, it gives a clear breakout for the targets at 1.68 and 1.70 levels. On the down side, the pair has a support at 1.6465. The more bearish review will generate once the pair breaks this level. Below this level, 1.6252, 1.6, and 1.5722 are the next targets.

On the upside, once the pair brakes the 1.66 level, it will face resistance at 1.6741, 1.6786, and 1.6823.

Exchange Rates 31.03.2014 analysis

SELL WITH SL at 1.666 and TARGETS at 1.66, 1.6585, AND 1.655.

Exchange Rates 31.03.2014 analysis

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

Performed by Joseph Wind,
Analytical expert
InstaForex Group © 2007-2020
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.