Forex4you

EUR/USD: bounce out of the resistance level

Wave analysis

Technical analysis

Fundamental analysis

Complex analysis

   The previous forecast was confirmed with the decrease to the level mentioned before. Up to this very moment there’s a probability of the correcting growth into the sector of 1.4600. The grounds for the before mentioned are the support in the shape of the pivot-level at 1.4373, the Fibonacci 208 level’s support (1.4334), the support by way of the bottom edge of the reshaped equidistant channel, and the RSI indicator’s reverse.

   Trading recommendations: to purchase higher than the level of 1.4335 with the potential target at 1.4600.
   Alternative scenario: the breakage downward of the before mentioned level will open the targets at 1.4125 and 1.4068.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst