techz zone (2) .pdf
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In January 2015, the EUR/USD pair moved underneath the main call for levels close to 1.20501.2100 (a couple of earlier bottoms set in July 2012 and June 2010). Hence, a long-term bearish
goal was once projected towards zero.9450.
In March 2015, EUR/USD bears challenged the per month call for degree round 1.0500, which
were up to now reached in August 1997.
In the long run, the extent of zero.9450 stays a projected goal if any per month candlestick
achieves bearish closure underneath the depicted per month call for degree of one.0500.
However, the EUR/USD pair has been trapped throughout the depicted consolidation vary
(1.0500-1.1450) till the present bullish breakout was once finished above 1.1450.
The present bullish breakout above 1.1450 allowed a handy guide a rough bullish advance
against 1.2100 the place contemporary proof of bearish rejection was once expressed (Note the
former Monthly candlestick of September).
In January 2017, the former downtrend was once reversed when the Inverted Head and
Shoulders trend was once established round 1.0500. Since then, obtrusive bullish momentum has
been expressed at the chart.
As expected, the continuing bullish momentum allowed the EUR/USD pair to pursue additional
bullish advance against 1.1415-1.1520 (Previous Daily Supply-Zone).
The day-to-day provide zone did not pause the continuing bullish momentum. Instead, obtrusive
bullish breakout was once expressed against the associated fee degree of one.2100 the place the
depicted Head and Shoulders reversal trend was once expressed.
If the hot bearish breakout persists underneath 1.1700 (Neckline of the reversal trend), a handy
guide a rough bearish decline must be anticipated against the associated fee zone of one.14151.1520 (Initial objectives for the depicted H&S trend).
Bearish goal for the depicted Head and Shoulders trend extends against 1.1350. However, to
pursue against the discussed goal degree, vital bearish drive is had to be implemented in
opposition to the discussed zone (1.1415-1.1520).
However, contemporary worth motion round the associated fee zone of one.1520-1.1415
indicated obtrusive bullish restoration. This hinders additional bearish decline so long as the hot
low round 1.1550 stays unbroken.
The present worth levels round 1.1900-1.1950 must be watched for a conceivable momentary
SELL access if the present indicators of bearish rejection are maintained.
S/L must be positioned above 1.2030. T/P levels to be situated at 1.1850, 1.1700 and 1.1590.
*The marketplace research posted right here is supposed to extend your consciousness,
however to not give directions to make a business.
Performed via Mohamed Samy,
InstaForex Group © 2007-2017
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