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 February 15, 2016

1455534060_EURUSDH1.png

Overview:

  • The EUR/USD pair has broken support at the level of 1.1239 which acts as a resistance now. According to the previous events, the EUR/USD pair is still moving between the levels of 1.1239 and 1.1101. Therefore, we expect a range of 138 pips in coming two days. The trend is still below the 100 EMA for that the bearish outlook remains the same as long as the 100 EMA is headed to the downside. Hence, the price spot of 1.1239 remains a significant resistance zone. Consequently, there is a possibility that the EUR/USD pair will move downside. The structure of a fall does not look corrective. In order to indicate a bearish opportunity below 1.1239, sell below 1.1239 with the first target at 1.1101. Besides, the weekly support 1 is seen at the level of 1.1101. However, traders should watch for any sign of a bullish rejection that occurs around 1.1239. The level of 1.1239 coincides with 50% of Fibonacci, which is expected to act as a major resistance today. Since the trend is below the 50% Fibonacci level, the market is still in a downtrend. Overall, we still prefer the bearish scenario.

Weekly technical levels:

  • R3: 1.1681
  • R2: 1.1529
  • R1: 1.1391
  • PP: 1.1239
  • S1: 1.1101
  • S2: 1.0949
  • S3: 1.0811
The material has been provided by InstaForex Company - www.instaforex.com