27/03/2015 EURUSD eyes on 1.0795 level


When it comes to Fridays, we have to take a look also at weekly charts, in order to get what kind of pattern is going to be completed this week.

As we can see, weekly price is bouncing from 1.066 (to where several long-term trendlines flow in).

EURUSD 27th of March – W1 EURUSD 27th of March – W1

EURUSD 27th of March – D1 EURUSD 27th of March – D1

If we take a look at the Daily chart, we see that 1.10380 was hit several times starting from Wednesday the 18th. And never broken up. What I think is that price will lay over 1.088 until it will find the definitive way to 1.07950 (38.2 fibo retracement on a M30-H1 timeframe).

EURUSD 27th of March – M30 EURUSD 27th of March – M30

In case, a firm and clear breakout of 1.07950 level (likely to occur if U.S. numbers will be better than expectations) would put increasing bearish pressure until 1.066 (which is 61.8 fibo retracement on a M30-H1 timeframe beside being a weekly essential support likely to be tested again soon or later).

Author: Simone Ambrogio

Disclaimer: AtoZ Forex would like to remind you that the data contained in this article is just the personal opinion of the author. AtoZ Forex or any author involved with AtoZ Forex will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within AtoZforex.com website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

    Share Your Opinion, Write a Comment