Tuesday, May 15, 2018

EURUSD Technical Chart | 15-May-2018

Below is the technical chart of EURUSD. Time frame used is H4. Technical charts used are Doda DonchianDoda-Bollinger BandsIchimoku and ADX Candles technical indicators.

EURUSD Technical Chart
EURUSD Technical Chart


After settling around 1.18493, EURUSD currency pair started its upward movement and this currency pair managed to close ABOVE Doda-Donchian and Doda-Bollinger Bands. That indicates beginning of upward journey.

But wait a sec...

The currency pair is still trading INSIDE kumo, which is no trade zone and major resistance for it. So, DO NOT take any long position, till it manages to close above Kumo cloud. The future kumo is also bullish. So, it can show some upward movement.

But if it closes below Doda-Donchian and Doda-Bollinger Bands, just take short position without any second thought as EURUSD Daily chart is weak.

Major Support Levels for EURUSD


1.19220

1.19054

1.18786

Major Resistance Levels for EURUSD


1.19756

1.19922

1.20190

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