empty
 
 
05.02.2014 05:01 PM
Intraday technical levels and trading recommendations for EUR/USD for February 5, 2014
This image is no longer relevant

A breakout above the previous resistance level of 1.3450 allowed bulls to higher levels around 1.3650, and then 1.3750 within the bullish channel.

Later on, obvious bearish rejection was expressed at 1.3850 (failing to reach 100% Fibonacci Expansion at 1.3904). Instead, a breakdown of the lower limit of the depicted bullish channel took place on January 2. This led to the previous bearish impulse that almost reached 1.3520.

Last week, the pair expressed another bearish breakdown of the demand zone of 1.3550-1.3500 (long-term uptrend line as well as SMA-100). This opened the way directly towards 1.3475 that was hit Yesterday. Any further bearish impulses will probably be targeting at 1.3455 (prominent Daily Support).

This image is no longer relevant
As we can see in the chart, bulls pushed towards the price levels around 1.3737 recently where strong bearish rejection was expressed.

As expected, a corrective bearish movement towards 1.3525-1.3500 took place shortly after.

The price zone of 1.3525-1.3500 failed to provide enough support for the pair. Instead, the pair has established a supply zone around the same price levels.

Fixation below this zone will gather further bearish momentum to push towards 1.3450 again then 1.3400 possibly.

Summary
Urgency
Analytic
InstaForex Analyst
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