empty
 
 
21.02.2014 06:49 PM
Intraday technical levels and trading recommendations for EUR/USD for February 21, 2014

This image is no longer relevant

On the daily chart we can see that the bulls found enough demand around 1.3570 to push again towards 1.3680-1.3700 for another retesting.

A prominent top was established around the same price zone on January 24. However, this time the bulls managed to breakthrough above 1.3700 and a bottom is probably being established around this price level.

An inverted Head and Shoulders is being established if the bulls manage to keep fixating above 1.3700 (neckline) aiming at 1.3900 corresponding to 100% Fibonacci expansion of the previous bullish swing.

On the other hand, daily fixation below 1.3700 again may open the way towards 1.3630 and 1.3600 initially.

This image is no longer relevant

The bullish impulse managed to bypass the upper limit of the bearish channel. Thus, the bulls established a bullish channel as depicted on the chart.

The upper limit of the bearish channel also corresponded to 50% Fibonacci level that got broken too.

This opened the way towards 61.8% Fibonacci targeting at the upper limit of the ongoing channel which comes to meet the pair around 1.3830.

Continuous consolidation above 1.3730 is a must to maintain enough momentum for higher targets.

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