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EUR / USD. Can we still count on a rebound?

Jan 17 2019, 07:59 PM (+06) | OlympTrade.com

Technical factors that affect this pair:

Analyzing the pair EURUSD, we like to pay attention primarily to the 4H TF. The euro is trying to break through the trend line which also acts as a resistance level. At the same time, a rebound from the support line occurs at the 1D TF. The MACD histogram crosses the signal line of 0 from the bottom up, which is a signal to buy. The Williams% R oscillator is near the lower limit, preparing to exit the oversold zone. The exponential average with a period of 9 is located at 1.1400.

 

Conclusion: a short-term purchase is possible after a breakout of the level of 1.1400 (EMA-9). A target could be placed at 1.1470. Stop loss orders are a must.

Fundamental factors that can affect the currency pair:

Due to US government Shutdown, it seems that a whole block of statistics of the US real estate market will fall out. Thus, technical analysis is currently coming to the forefront when analyzing the situation on the FOREX market.

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