The technical picture of the EURUSD on a "Regression Channel" for June 28, 2017

4-hour timeframe

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Technical data:

The major channel of linear regression: direction - up.

The minor channel of linear regression: direction - down.

The moving average (20; flattened) is up.

SCI: 194.5268

Explanations:

During trading session on June 28, the EUR / USD pair continued to gain strength as it moves higher, however, there is no any hints that a correction will begin.

As of this writing, the price positioned on top of the moving averages and over the Murray level "4/8".

The acquired target for uptrend came in at Murray's level of "5/8" - 1,135.

The Heiken Ashi indicator colored the last bars in purple which means moving to a higher position.

Short positions can be found underneath the moving average line.

The nearest support levels:

S1 - 1,1230

S2 - 1,1108

S3 - 1,0986

The nearest resistance levels:

R1 - 1,1353

R2 - 1,1475

R3 - 1,1597

Trading recommendations:

Taking consideration of the currency pair, we believe that dealing with long positions are probable with a target of 1, 1353. The next objective can be found at 1.1475.

Aside from the technical report, the market participants should further analyze fundamental data along with the time of release.

Explanation of illustration:

Major channel linear regression - blue lines unidirectional movement.

Minor channel linear regression - purple line unidirectional movement.

CCI - blue line in the indicator window.

Moving average (20; smoothed) - blue line on the chart.

Murray levels - multicolored horizontal stripes.

Heiken Ashi - the indicator bars coloring in blue or purple.

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