12.12.201813:24 Forex Analysis & Reviews: EUR/USD analysis for December 12, 2018

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Recently, the EUR/USD pair has been trading downwards. The price tested the level of 1.1350. Anyway, according to the M15 time – frame, I found that EUR/USD is trading above the Ichimoku cloud and that price couldn't sustain below the weekly support 1 (1.1318), which is a sign of the strength. There is also a double top (bullish pattern) on the point and figure chart, which is another sign of the strength. My advice is to watch for buying opportunities. The upward target is set at the price of 1.1370.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.