Good day, dear investors and colleagues traders!
Your attention a technical analysis of the currency pair #Eurusd:
* Commentary on last week:
The currency pair continued to decline last week, upsetting our plans for the short-term recovery of the single currency and giving us stop-loss. Over the week, the asset passed ≈ 130 points (or 1.03%). Positive statistical data in the USA and negative statistics in the Eurozone added a reason for the participant to sell.
Despite the fact that there were more reasons to sell the euro, but the R-coefficient still decreased, which may hint at the difficulty for sellers to push the price further.
* Technical comment:
An important technical factor is the last trading day (Friday) in terms of the formation of the zone from which the asset can jump.
Given the depth of the fall, the overall oversold of the currency pair on all time frames (H4, H8, D1), as well as Friday's consolidation, how the price will behave on Monday will be a key factor for opening long positions.
This view is supported by the fact that the price consolidated at the weekly pivot S2 (1.0839).
Support and resistance levels for the current week:
Resistances:
Supports:
* Orders and positions:
Our valuation system demonstrates that the euro begins to consolidate, if the asset does not fall in price on Monday, then it will be possible to consider long-term (from a week to a month), long positions.
A potential purchase is as follows:
Buy from the current value near the level of 1.0830-1.0810 with #stoploss 1.0780-1.0760 and #takeprofit: 1.0930 / 1.1000 and possibly 1.1080.
With best regards,
Ltd ”Wermelgion and Partners Investment”
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
Your attention a technical analysis of the currency pair #Eurusd:
* Commentary on last week:
The currency pair continued to decline last week, upsetting our plans for the short-term recovery of the single currency and giving us stop-loss. Over the week, the asset passed ≈ 130 points (or 1.03%). Positive statistical data in the USA and negative statistics in the Eurozone added a reason for the participant to sell.
Despite the fact that there were more reasons to sell the euro, but the R-coefficient still decreased, which may hint at the difficulty for sellers to push the price further.
* Technical comment:
An important technical factor is the last trading day (Friday) in terms of the formation of the zone from which the asset can jump.
Given the depth of the fall, the overall oversold of the currency pair on all time frames (H4, H8, D1), as well as Friday's consolidation, how the price will behave on Monday will be a key factor for opening long positions.
This view is supported by the fact that the price consolidated at the weekly pivot S2 (1.0839).
Support and resistance levels for the current week:
Resistances:
Supports:
* Orders and positions:
Our valuation system demonstrates that the euro begins to consolidate, if the asset does not fall in price on Monday, then it will be possible to consider long-term (from a week to a month), long positions.
A potential purchase is as follows:
Buy from the current value near the level of 1.0830-1.0810 with #stoploss 1.0780-1.0760 and #takeprofit: 1.0930 / 1.1000 and possibly 1.1080.
With best regards,
Ltd ”Wermelgion and Partners Investment”
!Attention: Trading financial instruments and (or) cryptocurrencies is fraught with high risks, including the risk of losing part or all of the investment, therefore it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions or political events. Margin trading leads to increased financial risks.
Ltd ”Wermelgion and Partners Investment” and any provider of the data contained on this website disclaim liability for any loss or loss incurred as a result of trading transactions made with reference to the information provided.
