empty
 
 
30.01.2015 11:34 AM
Technical analysis of EUR/USD for January 30, 2015
This image is no longer relevant
Trading recommendations:
  • According to the previous events, the price of EUR/USD is going to move between the levels of 1.1240 and 1.3360. It should be noted that the market is calling for a sideways trend. And the strong support has been already placed at the level of 1.1235 (23.6% Fibonacci retracement levels). So, buy above the level of 1.1235 which represents a minor support on the H1 chart with the first target at 1.3320. Then, the trend will be able to continue toward the level of 1.3360 in order to test the resistance . Also, it should be noticed that the weekly resistance 1 coincides with the price of 1.2389. Nevertheless, the stop loss should be set at 1.1208.
Review:
  • The key level will be set at the level of 1.3334. Also, it should be noted that the level of 1.3334 represents the weekly pivot point.
  • The support of the EUR/USD pair has already set at 1.1235.
  • Moreover, the weekly support 1 will be set at the same level. If the trend fails to close below the level of 1.1235, it will be a good opportunity to buy above 1.1235 with the first target at 1.3020, then it will be continued straight towards 1.3060 in the coming hours.
  • The price of 1.1389 represents the weekly resistance 1, and 1.1395 is going to form a double top on the H1 chart.
  • So, we expect a new range about 210 pips this week.
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