08.09.201610:14 Forex Analysis & Reviews: EUR/USD Technical Analysis for September 08, 2016.

Long-term review

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Technical outlook and chart setups:

The EUR/USD pair has rallied through 1.1271 levels yesterday and remained just shy of a few pips from fibonacci 0.618 resistance at 1.1273/75 levels as depicted on the hourly chart here. The pair is trading at 1.1265 levels at this moment after testing yesterday's highs, looking to turn lower again. The wave structure indicates that the pair has dropped lower in 5 waves earlier from 1.1367 through 1.1120 levels. Furthermore, the rally from 1.1120/25 through 1.1271 levels has unfolded in 3 waves (a-b-c), which is corrective. A bearish reversal from current levels remains highly probable with minimum downside potential towards 1.1140 levels going forward. It is hence recommended to remain short from the current levels, with risk above 1.1350 levels. Immediate resistance is seen at 1.1360 levels, while support is at 1.1150/60 levels respectively.

Trading recommendations:

Remain short now, stop is above 1.1350 levels, target is 1.1150 at least.

Good luck!

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.