empty
 
 
13.08.2018 11:29 PM
Technical analysis of EUR/USD for August 14, 2018

EUR/USD remains in a bearish trend. Price has broken below the critical 1.15 May lows and as the expected price is moving towards 1.13. We are bearish since the rejections and triangle pattern at the 1.1730-1.1760 area. The inability to break above resistance eventually lead to the break below support.

This image is no longer relevant

Blue line - long-term resistance

Red line - medium-term resistance (previous support)

The EUR/USD is trying to bounce above 1.14. We could see a back test of the broken red trend line support at 1.15 which is now important resistance. Not shown above, but the Daily RSI is giving bullish divergence signs. Big short-term resistance is found at 1.15-1.1520. So a daily close above this area could signal a bigger bounce and a fake break down. Otherwise we expect a move lower towards 1.12.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback