VistaBrokers

TECHNICAL ANALYSIS EUR/USD

1 Hour Intraday Trading

EUR/USD as you can see from the graph below managed to test the 1,3817 as we mentioned in last analysis and created a new resistance level  R3 at 1,3822. Short holders then took control of the price and managed to keep it at lower levels as it was the last Friday of the month. Price opened with a gap of 41 pips on Monday and since then is slopping downwards, this move created a new valid bottom and an upward trend line of 45 degrees approximately. The uptrend momentum is also confirmed by the stochastic which is slopping upwards and by the RSI which just crossed the 50 level.

SCENARIOS

As long as price is floating above the light blue trend line we expect the price to move upwards and try to test time the R3 level one more time, which turned to be a significant resistance.  Most probably price will also find a resistance at R2 level and we might see a correction of the primary trend.

A possible penetration of the trend line will signal a bigger correction and maybe a touch of the S2 at 1,3690. If price manage to break below the S2 then we go for even lower levels.

INDICATOR ANALYSIS GBP/USD

Info presented by Vista Brokers