forex trading

EUR/USD: continues to remain under pressure

Wave analysis

Technical analysis

Fundamental analysis

Complex analysis

        Yesterday euro/dollar bulls tried to defend their barrier of 1.3650 but the confrontation did not last long and the assumption of this line retention has not been justified. At this point the decline is carried out under the alternative scenario and you are offered an interesting daily chart, which accurately reflects the dynamics of the currency pair. Bollinger Bands indicator is located horizontally forming a temporary channel. At the top the resistance is formed by 1.3800 powerful optional barrier, Moving Average 20 reflects parity between the bulls and the bears and appears to be consolidated below, which signals the priority of the bear moods. At the bottom the support at 1.3500 level is in the form of Bollinger bands and an optional level for the April puts.
      Trade recommendations: to consider the position on the market with a stop above 1.3650 and to the target of 1.3500.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst