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Technical analysis

Euro Recovers Above 1.1300

OctaFx | Feb. 13, 2019
Euro Recovers Above 1.1300

February 13, OctaFX – The euro currency has recovered above the 1.1300 level against the US dollar, with the pair correcting from extremely oversold trading conditions.

EURUSD Technical Analysis

If the EURUSD moves above the 1.1360 level, strong technical buying may force the pair back towards the 1.1410 area. Technical indicators are turning bullish on the four-hour time frame with the RSI and MACD indicators both showing potential for further upside.

  • The EURUSD pair is only bearish while trading below the 1.1360 level, key technical support is found at the 1.1300 and 1.1255 levels.
  • If the EURUSD pair moves above the 1.1360 level, buyers may test towards the 1.1410 and 1.1470 resistance levels.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.