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 March 30, 2016

EURUSDM30.png

EUR/USD is expected to trade with a bullish bias above 1.1255. The pair surged up to 1.1303 overnight before entering a mild consolidation. Currently it keeps trading on the upside while being supported by the ascending 20-period moving average. Strong upward momentum is also suggested by the relative strength index, which is well directed above the overbought level of 70. Therefore, the pair is expected to re-test the first upside target at 1.1340 before proceeding further to 1.1365.

Trading Recommendation:

The pair is trading above its pivot point. It is likely to trade in a wider range as long as it remains above its pivot point. Therefore, long positions are recommended with the first target at 1.1340 and the second one, at 1.1365. In the alternative scenario, a short position is recommended with the first target at 1.1220 if the price moves below its pivot points. A break of this target is likely to push the pair further downwards, and one may expect the second target at 1.1175. The pivot point is at 1.1255.

Resistance levels: 1.1340, 1.1365, 1.1410

Support levels: 1.1220, 10.175, 1.1100

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