empty
 
 
19.02.2019 08:53 AM
EUR/USD technical analysis for 19/02/2019

EUR/USD technical analysis for 19/02/2019:

The resistance holds, for now, the price pulls-back lower

Technical market overview:

The EUR/USD price was not able to break through the technical resistance zone located between the levels of 1.1321-1.1341 and the price pulled-back towards the 38% Fibonacci retracement at the level of 1.1295. The momentum is below the neutral level, which is again not a very good indication of the strength of the bullish side of the market. The next targets for bears are the Fibo retracements at 50% (at 1.1283) and 61% (at 1.1272). Only a clear breakout above the level of 1.1341 would change the short-term outlook from bearish to bullish.

Weekly Pivot Points:

WR3 - 1.1452

WR2 - 1.1395

WR1 - 1.1341

Weekly Pivot - 1.1286

WS1 - 1.1238

WS2 - 1.1177

WS3 - 1.1130

Trading recommendations:

All of the sell orders opened yesterday should be still in play as the targets are seen at the levels of 1.1295, 1.1283 and 1.1272. The corrective move down might get time-consuming, so the patience is required now.

This image is no longer relevant

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 $8000 more!
    In March we raffle $8000 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