The euro exchange rate in the foreign exchange market on March 28, is continuing to decline, which is signaled by the indicator Heiken Ashi bars staining blue. Senior channel is directed upward, indicating that the upward direction of the global trend. Junior channel is also directed upwards, which means upward direction and in a less long term. At the moment the price is below the moving average and below the Murray "1/8". Therefore the aim of the downward movement is now level Murray "0/8" - 1.3672, but shorts are now considered still not recommended. If price overcomes the first target, the new target will be the level of Murray "-1/8" - 1.3550. The moving average is directed downward , and the price is in turn below it, so now more relevant downward movement. Heiken Ashi colored bars in the last blue color, which tells us about the local downward movement, but now in any position indicator to consider short positions is not recommended. Short positions can be considered only after turning down any linear regression channel. Buy orders will be relevant only after fixing prices above the moving average. The CCI indicator is about the level of -100, which indicates the presence of a weak currency pair oversold.
In our EUR/USD technical report the next support levels is near at 1.3672, 1.3550 and 1.3428 while nearest resistance levels are 1.3794, 1.3916 and 1.4038.
Trading Suggestion: After analyzing the EUR/USD currency pair, we conclude that is now recommended not to consider any position. To be able to consider longs requires fixing prices above the moving average. To be able to open short positions should wait for a turn down any linear regression channel.
No comments:
Post a Comment