Eurusd october 15th 2018 analysis
Last week, the demand area was 1,1445-1. 131 After two weeks of continuous fall, EURUSD was touched from resistance zone 1,1862-1.1717. EURUSD has now entered a neutralized phase of the weekly chart. Also last week the buyers arrived from 1.14545-1.1312, but they could not exceed the high of 1.1624 dollars.
The supportive zone of 1.5153.1.1479, which dates back to October 2017, was put under pressure during the trading sessions last week, but eventually we saw a rising upside down the pinnacle of the day. The continued presence of buyers in the market led the EURUSD to climb to a high of $ 1,1610. The next bullish target on the daily EURUSD chart is a resistance of $ 1,1723, which is located just inside the weekly resistance zone, indicating a key resistance of $ 1,1733.
The EURUSD price movements on the 4-hour chart show that buyers were not able to keep their position above $ 1.16. The Rand rate was surrounded by the reopening of October and September at 1 1604 and 1 1595. After the EURUSD descended from $ 1,1610, the pair clashed at $ 1,1543, with a strong bullish pivot against Fibonacci retracement of 38.2%. However, the deflation of 1.1543 could smooth the EURUSD downtrend to $ 1.15 and the key support of $ 1,1460.
Price action strategy
The overall trend of EURUSD is bullish. It is possible to purchase the support from January 1, 1543. However, you have to act with caution. The first trading profit margin for the EURUSD is $ 1.16.