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*

Technical analysis of EUR/USD for December 14, 2015

1450094669_EURUSDH1.png

Overview:

  • The level of 1.1088 is going to form a coherent resistance this week. Moreover, it might be important to notice that the pivot point of the EUR/USD pair will be set at the price of 1.0941. Besides, the support was broken and turned into resistance last week. As a result, it will very profitable to sell at 1.1088 with a target at 1.0941 in the short term in order to test the first support. On the other hand, the best place to set stop loss should be above the weekly resistance 1 (1.1088).

Notes:

  • Major support will be set at the price of 1.0852; and the double bottom has been already placed at 1.0795.
  • Major resistance is going to be at 1.1088
  • We expect a new range about 325 pips this week.
  • If the trend is upward, then the strength of the currency will be defined as follows: EUR is in an uptrend and USD is in a downtrend.

Weekly technical levels of EUR/USD:

1450095034_eurusd_pp.jpg

Review:

  • The pivot point: resistance 3 and support 3 are considered to be clear indicators of the maximum range of extreme volatility, though it could pass them through. Pivot lines work well on sideways markets as the prices are most likely to be located between the resistance 1 and support 1 lines. Within a strong trend, the price is expected to be lower than the pivot point line and to continue moving. If released breaking news affect the market, the price is likely to go straight through resistance 1 or support 1 and even reach resistance 2 and resistance 3 or support 2 and support 3.
The material has been provided by InstaForex Company - www.instaforex.com