Eurusd october 11th 2018 analysis
EURUSD buyers arrived on the market on Wednesday and raised the market from $ 1.5bn. The EURUSD has been able to challenge the key resistance of 1.1543. On the weekly chart, EURUSD continues to climb. The weekly demand zone of 1.14545-1.1312 has recently been activated and the uptrend path of the EURUSD weekly chart is flat to the resistance level of 1.1862-1.1717.
Although the EURUSD weekly chart is indicative of continued bullish movements, the short-term outlook (the 4-month chart) is not very beneficial to EURUSD buyers. On top of the current key resistance, the resistance zone is 1515-151-1. 1563 and the Rand rate is $ 1.16, which is also surrounded by the October and September reopening rates of 1604-1.1595. In addition, a daily resistance of $ 1,51530 should be considered.
Price action strategy
Although it could be expected to continue the EURUSD upside, it should be cautious in the short term, above the $ 1.15 level. If the EURUSD hits $ 1.15 again, you can enter the EURUSD purchase deal. The pair failed to cope with this rate in the form of support after the $ 1.15 defeat. For this reason, there may still be buyers in this area. It is recommended that you wait at least $ 1-15 before you get into the EURUSD purchase deal.