empty
 
 
12.09.2019 11:34 PM
EURUSD makes major double bottom

EURUSD was quiet nervous today as price opened above 1.10, fell as low as 1.0926 and then closed near 1.1063. With a double bottom at 1.0926 and a big positive daily candlestick, bulls look ready to break the resistance.

This image is no longer relevant

Blue line - major trend line resistance

Yellow rectangle - support double bottom

EURUSD is still below the blue trend line resistance. As long as this is the case then price is vulnerable to turning lower. Breaking above the resistance trend line will be a very bullish signal for EUR and could push price above 1.12-1.13.

This image is no longer relevant

Red rectangle - resistance

EURUSD is challenging the 1.1080-1.1090 resistance area. This is where we also find the kijun-sen (yellow line indicator). A daily close above the kijun-sen will push price towards the cloud resistance at 1.1150. Support by the tenkan-sen (red line indicator) at 1.10.

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 $1000 more!
    In October we raffle $1000 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