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Technical analysis

EURUSD Strongly Bullish Above 1.1460

OctaFx | Jan. 31, 2019
EURUSD Strongly Bullish Above 1.1460

The EURUSD pair rose sharply from yesterday’s low of 1.1406 to the current high of 1.1500. In the past week alone, the pair has risen from a low of 1.1288.

January 31, OctaFX – The euro is testing towards the 1.1500 level against the US dollar after the FOMC kept interest rates on hold and struck a more dovish tone than market participants had been expecting.

The EURUSD pair is strongly bullish while trading above the 1.1460 level, a sustained move above the 1.1500 level should provoke strong technical buying. Traders now await the release of key GDP and Unemployment data from the eurozone economy this morning.

EURUSD Technical Analysis

  • The EURUSD pair is bullish while trading above the 1.1460 level, key technical resistance remains at the 1.1500 and 1.1570 levels.
  • If the EURUSD pair trades below the 1.1460 level, sellers may test towards the 1.1430 and 1.1410 support 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.