Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
The area of a key resistance is 1.1210-1.1233

The area of a key resistance is 1.1210-1.1233 | 20 May 2016

20 May 2016, EUR/USD

Daily chart: the price has accumulated a quite obvious bearish potential, ADX pressure is close to the trend. Ahead there is a strong support area 1.1200-1.1210, which breakdown will boost sellers towards 1.0970

Н4: convergence of oscillator and some oversoldness. At the same time, we notice pressure from ADX and expanded envelopes, which suggests continuation of the downtrend.

Н1: local convergence of bullish RSI. The key reversal zones will be 1.1210 and 1.1233 (the middle and upper Bollinger bands). As long as these areas are not broken up, we expect a continuation of drop of the euro.

Expectations: The main scenario - touch of 1.1210-1.1233 zone and then diving under 1.1170 to 1.11 and with an eye on 1.0970

The alternative scenario - reversal to 1.13 in the case of surge above 1.1233

Trading solutions: Sell from 1.1210-1.1233 to 1.11 with a Stop Loss set above 1.1233.

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Login

Tunjukkan kata laluan

Hide password

 Terlupa kata laluan anda?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.