empty
 
 
20.05.2015 08:23 AM
Technical analysis of EUR/USD for May 20, 2015

This image is no longer relevant

Technical outlook and chart setups:

The EUR/USD pair dropped lower from swing highs (1.1450/60) to 1.1100/10. Please note that the level of 1.1100 is also the fibonacci 0.382 support of a rally between 1.1050 and 1.1450 as seen here. The pair is expected to form the bottom here. Now, it is hence recommended to initiate long positions with risk at 1.0500. Immediate support is seen at the level of 1.090 (interim) followed by 1.1050, 1.0675 and lower, while resistance is seen at 1.1350, followed by 1.1450 and higher respectively.

Trading recommendations:

Initiate long positions now, stop at 1.0500, a target is open.

Good luck!


Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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