DAX ®12.430,88+0,85%TecDAX ®2.816,83-0,28%S&P FUTURE2.933,70-0,20%Nasdaq 100 Future7.550,50-0,80%

EUR/USD Surges and Breaks Above 1.2345; Is There More Upside Looming?

| Quelle: JFD_RESEARCH_TECHNICAL_ANALYSIS | Lesedauer etwa 3 min. | Text vorlesen Stop Pause Fortsetzen

EUR/USD spiked north during the European morning Monday, breaking above the resistance (now turned into support) barrier of 1.2345. The pair continues to trade above the long-term uptrend line drawn from the low of the 10th of April 2017, which keeps the broader upside path intact. However, it is also trading below the near-term downside resistance line taken from the peak of the 16th of February and thus, we prefer to maintain our flat stance with regards to the broader outlook.

For now, if the bulls manage to remain in the driver’s seat, we would expect them to target the 1.2395 resistance zone, defined by the peak of the 11th of April. Another break above that level is possible to set the stage for extensions towards our next resistance of 1.2420, or the downside resistance line drawn from the peak of the 16th of February.

Looking at our short-term oscillators, we see that the RSI rebounded from near its 50 line, while the MACD, already positive, has just poked its nose above its trigger line. These indicators reveal upside momentum and support the case for EUR/USD to continue trading north, at least in the short run.

On the downside, even if the rate falls back below 1.2345, it would still be trading above the aforementioned long-term uptrend line, and thus we would still see a decent likelihood for a rebound from near 1.2300, or from that uptrend line.

We would like to see a decisive dip below that line before we abandon the bullish case. Such a dip could initially aim for the 1.2260 zone, the break of which could carry more downside extensions, perhaps towards our next support territory of 1.2215, defined by the low of the 6th of April.

EURUSDH4 160418



The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers is not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. Please ensure that you fully understand the risks involved.

Copyright 2018 JFD Brokers Ltd.

  • Technical Analysis
  • Forex
  • FX
  • 4H
    no-reply@jfdsystems.com (Charalambos Pissouros)

    Das könnte Sie auch interessieren




    Börse Stuttgartschliessen
    Börse Stuttgart

    Gewinnen Sie pures Gold!

    Unter allen Teilnehmern an der Anlegerumfrage verlost der Börse Stuttgart Anlegerclub Gold im Gesamtwert von über 1000 Euro.

    Jetzt kostenlos anmelden und mitmachen!
    Diese Seite empfehlenschliessen
    Interessant, oder?
    Teilen Sie diese Seite auf Facebook, Google+ oder Twitter
    Aktuelle Umfrageschliessen
    Wie, glauben Sie, wird der DAX am Ende dieser Woche - KW 39 - stehen?
    Jetzt abstimmen!
    Alle Umfragen ansehen