EURUSD December 5th 2018 technical analysis
In recent trading, the EURUSD 4-hour chart has risen above the Rand rate of $ 1.14, and the market collapsed to a resistance line drawn from the peak at $ 1.1621. But then fell to EURUSD. In yesterday’s report, the opportunity to sell EURUSD was from around $ 1.14.
Continuing sales pressures from current price levels could push the EURUSD to a rebound in November at $ 1,1314, which is matched at a Rand rate of 1.13 and a support line line of 1.1215. The green range around $ 1.13 is a good way to enter the purchase deal.
On the EURUSD weekly chart, the pair fluctuates between 1.1465 resistance and demand zone 1.212-1.1191. On the daily chart of EURUSD, the AB = CD pattern appears on the top of the demand area at 1112.1-1.1117. This daily demand area is clinging to the weekly demand zone. If EURUSD returns to the top after completing the AB = CD pattern, traders should focus on the resistance of 1.1455, which is consistent with the Fibonacci resistance of 61.8 and 38.2%.
Price action strategy
Given the Rand Rand rate of $ 1.4bn, its likely target for the Rand Rand is likely to be $ 1.13. Traders should be priced at $ 1.13 a caution. The probability of a EURUSD uptrend from 1.13 is serious. If the EURUSD returns from $ 1.13 to the top, the EURUSD purchase profit margin will range from $ 1.14.