empty
 
 
31.03.2021 09:55 PM
EURUSD remains under pressure but we could see a bounce towards 1.18 soon.

EURUSD is very close to our target of 1.17. Price has reached very close to important long-term Fibonacci support level and is showing signs of weakening bearish momentum. The RSI in the Daily chart has not provided a new low as price did and is giving is a bullish divergence.

This image is no longer relevant

Blue lines - bullish divergence

Yellow rectangle - bounce target

This does not mean that a trend reversal is coming. The bullish divergence by the RSI is just a warning. The chances for a bounce have increased. A bounce towards the yellow rectangle area of 1.18-1.1850 is justified after the sharp decline from 1.1990. Today price moved as high as 1.1760 but fails so far to stay near the daily highs. Price is back to its daily lows and early tomorrow we could see a swift breach below 1.17. The end of the week is approaching and profit taking by the bears can not be ruled out. This could be the reason price bounces as we expect in the short-term. Technically trend remains bearish as price continues making lower lows and lower highs. The 1.20 level is key trend change level.

Summary
Urgency
Analytic
Alexandros Yfantis
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $6000 más!
    ¡En Diciembre, sorteamos $6000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback