Eurusd october 12th 2018 analysis
Yesterday saw the EURUSD rise to $ 1.16. The EURUSD weekly chart could enter the market from the demand zone of 1.14545-1.1312, and the EURUSD uptrend to the resistance level of 1.1862-1.1717 is also smooth. The EURUSD daily chart has a bullish trend and the market is out of the support region of 1.5153-1. 1479. The next bullish target of EURUSD is at 1,1723 USD, which not only represents the key resistance of 1733 but also within the weekly resistance zone.
However, the chart is about $ 1.16 a quarter. The Rand rate is surrounded by the rebound of October and September at 1 1604 and 1 1595 and is still not a sign of strong buyer presence on the market. The RSI indicator is also rapidly reaching the saturated range of purchases.
Price action strategy
The $ 1.16 benchmark is consistent with two rebound rates, but the downside may be lower than this. In fact, in the best case of the market, it can lower the support of the 1 August 1543 hurdle. However, moving EURUSD to over $ 1.16 could bring the EURUSD to a quarterly supply range of 1651-1.1633. For long-term charts, entering the EURUSD purchase deal is a bit tricky. That’s why it’s best to refrain from trading EURUSD today.