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4/8/2016 4:33:25 AM

EURUSD ends a session marked with high volatility - Technical Analysis - 08-04-2016



EURUSD fell in the intraday levels in a session that was marked in high volatility, with the dominance of the main upward short-term trend, while trading within an ascending price channel as shown in the attached chart, as the pair tries to garner positive momentum to help it rise again, eventually leaning on the pivotal support of 1.1340, coinciding with another lean on the support of that ascending price channel, while also getting buoyed by the support of the SMA50, as relative power indicators reached extremely oversold levels compared to the pair's upward movement.

Therefore we expect the pair to return higher in the coming trading, provided the support of 1.1340 holds on, targeting the resistance of 1.1465.


Target
Risk


Support
Resistance


Trend Bullish

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