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 for EUR/USD for January 6, 2015

eurusddaily.jpg


Previously, DAILY closure below 1.2360 (the lower limit of the congestion zone) directly exposed price levels around 1.2250.


The EUR/USD pair continued to move lower after breaking below major DEMAND LEVEL at 1.2250 exposing price levels of 1.2120 and 1.2000 .


Fundamentally, the euro sentiment remained negative upon the prospect of more actions from the ECB in the coming weeks regarding QE.


Note that the market is currently pushing further below price level of 1.2000 (prominent psychological SUPPORT, also corresponding to the lower limit of the movement channel).


Price action should be watched carefully at the market closure for further decisions as the market currently looks oversold.


eur4h.jpg

As anticipated previously, an obvious 4H break below 1.2150 exposed the full-range breakout projection target around 1.2000.


Following such a strong bearish swing, the market should be looking for a considerable demand level to pause around.


The lower limit of the current movement channel has been breached after the bearish gap that occurred at the market opening this Monday.


Further price action should be considered as the current price levels haven't been visited since May 2010.


Trade recommendations :


Risky traders should now be looking for LONG positions around these historical low prices after such quick bearish decline that started around 1.2550.


However, conservative traders should be looking for SHORT positions in such strong bearish momentum. Bullish pull-back towards higher price levels are needed.


Low-risk SELL entries can be taken around price level 1.2250 where a recent SUPPLY zone is located.


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