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 22, 2019

analytics5c47057b392d5.png

Since June 2018, the EUR/USD pair has been moving sideways with slight bearish tendency. Narrow sideway consolidations have been maintained within the depicted Flag Channel (In red).

On November 13, the EUR/USD demonstrated recent bullish recovery around 1.1220-1.1250 where the current bullish movement above the depicted short-term uptrend (In blue) was initiated.

Bullish fixation above 1.1420 was needed to enhance further bullish movement towards 1.1520. However, the market has demonstrated significant bearish rejection around 1.1420 few times so far.

This renders the recent bullish breakout above 1.1420 and 1.1520 as a false breakout. Hence, any bullish pullback towards 1.1420 can be considered as a valid SELL entry for intraday traders.

The current bearish consolidations below the key-level of 1.1400 encourages more bearish decline down to 1.1250 as Initial target provided that the minor uptrend line located around 1.1350 gets broken to the downside early.

Trade Recommendations:

Conservative traders can wait for bearish breakdown below 1.1350 (short-term uptrend in BLUE) as a valid SELL entry.

T/P levels to be located around 1.1310, 1.1270 and 1.1225. S/L to be located above 1.1420.

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