Technical analysis for EUR/USD for February 15, 2019


EUR/USD made another touch at the important support trend line at 1.1250 and bounced. I continue to expect price to move towards 1.1350-1.14 area for a lower high. Trend remains bearish but in the short-term I expect a bounce.

Red line – important resistance trend line

Green line – important support trend line

Black lines – bullish divergence

Black rectangles – bounce targets

EUR/USD has support at 1.1250 and resistance at 1.1350-1.14. EUR/USD is still providing bullish divergence signs in the 4-hour RSI and this is an important warning for bears. Price is expected to bounce towards 1.1350 at least over the coming sessions. Ideal target would be at 1.14 and to test the downward sloping red trend line resistance. As long as price is below 1.15 medium-term trend remains bearish.

The material has been provided by InstaForex Company –

Source:: Technical analysis for EUR/USD for February 15, 2019

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply