EUR/USD - Technical analysis and Strategy

By @ibtimes on

_ Main trend: rising
_ Short-term trend: decline
R4: 1.53 bottom of consolidation
R3: 1.50 psychological
R2: 1.48 top
R1: 1.46 low, consolidation
S1: 1.43 tops
S2: 1.40 psychological, consolidations
S3: 1.37 tops
_ Dollar has tested 1.43 level and 200-day moving average.
_ MACD is turning upwards and just sent sell signal for dollar. It is oversold.
_ ROC20 is turning upwards. ROC60 is in declining trend. Both are below zero level.
_ RSI is slightly above oversold level.
_ 1.43 level/200-day moving average should stop current declining trend. Most likely scenario is return to 1.46 and then consolidation before return to 1.50. Breakthrough of 1.43 would change technical picture substantially. In such case, fast decline to psychologically important 1.40 level and successful testing of this level are likely.

EURUSD

EURUSD

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