Wednesday, January 29, 2014

EURUSD rebound - Technical analysis and trading recommendation

EURUSD - H1 chart

After hitting the lower bond of its downtrend channel Eur/Usd rebounded rapidly.
It's still in consolidation phase and failed to break the downtrend channel, but I assume it will extend its gain up to 1.3715 and 1.31730 further. 

EURUSD - H1 chart



Trade recommendation

Buy ater correction  around 1.3650 or later if the upward pace is sustained
Target levels: T1: 1.3715 T2: 1.3730


Current support levels
  • 1.3628
  • 1.3602
  • 1.3585
Current resistance levels
  • 1.3688
  • 1.3715
  • 1.3730

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