EUR/USD FORECAST
The Price of Currency pair: EUR
/ USD looks on the bearish Side, With the weaker market condition ranging
between resistance 1.1268 and support levels of 1.1089. The price tends to be
Elevated uptrend which opened H4 bar a with market rally by trying to break
1.1268 resistance from below to above for the rally which seems to be
continuing. Just in Case If the price reaches to 1.1268 level so the rally will
be continuing up to 1.1341 while the next bullish target located inside
Ichimoku cloud stays as Bullish on the Table Given Below:
- Chinkou Span line located below the price is ready to cross it from below to above for good breakout of the price movement.
- The price is crossing 1.1268 resistance from below to above for the rally to be continuing.
The nearest key
resistance levels are 1.1268 and 1.1341.If the Currency Pair price breaks out
at level of 1.1089 support level on the Chart Given Above so the primary
bearish trend seems to be continuing. If Currency price Chart will break 1.1268
resistance level on close bar so we may see the local uptrend as the secondary
market rally within the primary bearish market condition.
If Chart price will break 1.1341 resistance level so that we might see the reversal of the price movement to the bullish condition with the secondary ranging: the price will be located inside Ichimoku cloud.
If Chart price will break 1.1341 resistance level so that we might see the reversal of the price movement to the bullish condition with the secondary ranging: the price will be located inside Ichimoku cloud.
Key Analysis:
- Chinkou Span line located below the price is ready to cross it from
below to above for good breakout of the price movement.
- If The price tends to crossing 1.1268 resistance from below to
above for the rally to be continuing.
Recommendation:
- Recommendation
for long: watch price chart to break 1.1268 for possible buy trade with
re-enter at 1.1341
- Recommendation
to go short: watch Currency Pair price to break 1.1089 or 1.1093 support
level for possible sell trade.
Analyst View:
Bearish
Resistance & Support Level
- Resistance
Level: 1.1268 , 1.1341
- Support
Level: 1.1089, 1.1093
Research Team:
1. Analyst:
2.
Associate Analyst:
Disclaimer:
This document
has been prepared by Seven Star FX Ltd and is meant for sole use by the
recipient and not for circulation. This document is not to be reported or copied
or made available to others. The information contained herein is from sources
believed reliable. We do not represent that it is accurate or complete and it
should not be relied upon as such. We may have from time to time positions or options
on, and buy and sell securities referred to herein. We may from time to time
solicit from, or perform investment banking, or other services for, any company
mentioned in this document. This report is intended for non- Institutional
Clients only
 |
This report
has been prepared by the Retail Research team of Seven Star FX Ltd. The views,
opinions, estimates, ratings, target price, entry prices and/or other
parameters mentioned in this document may or may not match or may be contrary
with those of the other Research teams (Institutional, PCG) of Seven Star FX Lt
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