MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Intraday technical levels and trading recommendations on EUR/USD for December 24, 2014

1419414248_eurdaily.jpgeur4h.jpg


Bearish pressure was applied earlier around 1.2800-1.2840 where the depicted head and shoulders reversal pattern and the upper limit of the depicted bearish channel were established.


Recently, the daily fixation below 1.2360 (the lower limit of the depicted broken congestion zone) extended the bearish targets towards the price level of 1.2250.


However, after bears could fixate below 1.2360, evident bullish recovery was expressed so that bulls could reach the price level of 1.2560 few days later.


Bearish pressure that originated off 1.2560 (the upper limit of the movement channel) led to a breakdown of the price level of 1.2250 which supported the EUR/USD pair for a long time.


For intraday traders, the price level of 1.2150 remains a significant Fibonacci expansion level. Intraday DEMAND will probably be present at retesting.


Trade Recommendations :


As anticipated, risky traders could have benefited from the bearish breakout below 1.2250. This breakout exposes potential projection target roughly located around 1.2100.


Conservative traders should be looking for SHORT positions. Best low-risk entries may be taken around 1.2260 (the latest broken bottom).


The material has been provided by InstaForex Company - www.instaforex.com