empty
 
 
02.02.2015 12:10 PM
Weekly technical levels for EUR/USD for February 2-6, 2015
The weekly technical levels for EUR/USD pair
This image is no longer relevant
This image is no longer relevant
Overview:
  • The major level of the EUR/USD pair has been set at the level of 1.1270. This level is acting as strong support today and it coincides with the ratio of 50% of Fibonacci retracement levels on the H1 chart. Therefore, the first key level will be set at the level of 1.1268 (the weekly pivot point). Furthermore, the trend was very clear and was indicating an uptrend in the short term. Thus, we expect that the trend is going to call for a bullish market at the level of 1.1270 because buyers are bidding for a lower price. As a result, buy at the price of 1.1270 with the target of 1.1422 in order to test the double bottom. Moreover, the price is going to continue toward the level of 1.1439. Also, it should be noted that the level of 1.1439 represents the weekly resistance 1.
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