Technical outlook and ideas for Forex pairs
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Pending orders for EUR/USD
Information is not investment advice
4H Chart
Daily Chart
EUR/USD traded within a tight range since the mid of last week with no significant action. However, the euro managed to test its major uptrend last week and hold well above that support. In the meantime, technical indicators remain oversold on the daily chart, which keeps us away from any short positions at the current levels. On the other hand, we prefer to wait for another upside retracement. In the meantime, we have two pending orders to short EURUSD at 1.2055 and 1.21, which might get executed later this week. If so, Stop Loss orders should not exceed 1.22, while the first target for these positions would be 1.1850.
|
S3 |
S2 |
S1 |
Pivot |
R1 |
R2 |
R3 |
|
1.1838 |
1.1881 |
1.1903 |
1.1924 |
1.1946 |
1.1967 |
1.2010 |
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