empty
 
 
28.12.2015 01:53 PM
Technical analysis of EUR/USD for December 28, 2015
This image is no longer relevant

Overview:

  • The EUR/USD pair has rebounded from the major support level of 1.0930 and it is approaching its support now in order to test it. Moreover, it should be noted that the level of 1.0930 represents the weekly pivot point this week. So, it will probably start moving upside in this area and recover again. Therefore, buy at this spot with the first target at 1.0986 to form the double top and continue towards 1.1008 (it should be noted that this level will form the weekly resistance 1). On the other hand, in case of a breakout at 1.0927, a good place for stop loss is seen below 1.0915.
This image is no longer relevant

Observations:

  • If the trend is upward, then the strength of the currencies will be defined as following: EUR is in an uptrend and USD is in a downtrend.
  • Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account.
  • Fibonacci is in a trading range; it looks like the trend is trapping and going up or down. If you sell or buy in the long term in this period, you will surely lose your profit.
Summary
Urgency
Analytic
Mourad El Keddani
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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