According to the EURUSD quarterly chart, since late January, the bullish bullish rupture stopped after colliding with a resistance region of 1.2550-1.2500, with the euro-dollar exchange rate in the neutral phase between the resistance zone (1.2550 1, 2500) and the supportive zone (2222-12200 2200). On April 25, the exchange rate of the euro in the US dollar fluctuated between 1 2400-1.2300 after a period of time. The 2300 rebounded downward movement, after defeating the support area as much as the whole range of heights, or 350 pips (corresponding to the mid-range 1. 1850) fell.
However, the range of 1850-1.1800 prevented a further depreciation of the euro against the US dollar, and saw positive returns of the pair to the Rand 1, 2000 rate. The presence of sellers around the Rand rate led to a continuation of the downside movements, so that the rate of 1.1850-1. 1800 broke out and fluctuates on May 16 in the downtrend channel. On Tuesday, the EURUSD was backed by the 1763 rate and was able to cross the top of the canal. The odds ratio returned to the downside channel after collision with the 1,1850-1. 1800 area. The pair rebounded downwards, so that it entered the supportive zone of 1,1730-1. 1670 and fell to the bottom of the channel, which is the lowest level in 2018.
Last week, EURUSD started its trading session with the support of the Rand rate of 1700 and reached the canal ceiling. This price level appears in the form of resistance and returns the parity back to the support zone. In today's trading session, the pair is also involved in a negative return on the channel's ceiling with a rate of 1,1700 Rand. If the Rand rate of 1700 would back the market again, it could restore the euro / USD exchange rate to 1,1730 and channel ceiling. Failure of this price level and passing through to 1,1763 will result in an equalization rate of 1,1800 and 1,1850 resistance. In contrast, if the pair breaks below 1,1700, it will fall to 1,1670 (the floor of the supportive zone) and the bottom of the channel. The breakdown of these levels could range from a bearish rally to an average rate of 1,1650, a Rand rate of 1,600 and a rate of 15.116 (the precious price of November 7, 2017).
However, the range of 1850-1.1800 prevented a further depreciation of the euro against the US dollar, and saw positive returns of the pair to the Rand 1, 2000 rate. The presence of sellers around the Rand rate led to a continuation of the downside movements, so that the rate of 1.1850-1. 1800 broke out and fluctuates on May 16 in the downtrend channel. On Tuesday, the EURUSD was backed by the 1763 rate and was able to cross the top of the canal. The odds ratio returned to the downside channel after collision with the 1,1850-1. 1800 area. The pair rebounded downwards, so that it entered the supportive zone of 1,1730-1. 1670 and fell to the bottom of the channel, which is the lowest level in 2018.
Last week, EURUSD started its trading session with the support of the Rand rate of 1700 and reached the canal ceiling. This price level appears in the form of resistance and returns the parity back to the support zone. In today's trading session, the pair is also involved in a negative return on the channel's ceiling with a rate of 1,1700 Rand. If the Rand rate of 1700 would back the market again, it could restore the euro / USD exchange rate to 1,1730 and channel ceiling. Failure of this price level and passing through to 1,1763 will result in an equalization rate of 1,1800 and 1,1850 resistance. In contrast, if the pair breaks below 1,1700, it will fall to 1,1670 (the floor of the supportive zone) and the bottom of the channel. The breakdown of these levels could range from a bearish rally to an average rate of 1,1650, a Rand rate of 1,600 and a rate of 15.116 (the precious price of November 7, 2017).