Eurusd october 22th 2018 analysis
On the EURUSD weekly chart, the pair has recorded Dodge curls for two consecutive weeks, and the upper end of the weekly demand range of 1,1445-1.1312 has kept its position well. If EURUSD buyers enter the market, the EURUSD may rise to the resistance level of 1,1862-1. 1717. This weekly resistance zone since June 2018 limits the upside of EURUSD. According to the EURUSD weekly chart, the market trend is neutral and the currency pair fluctuates within a limited range (yellow range). The reopening rate for 2018 is set at 1 January 2004 and the weekly demand zone is at 1,1445-1.1312.
On the EURUSD daily chart, support for 1.1462 is a key and important level for the market. This support was a major resistance to the market in early 2015. Two weeks ago, this support raised the bullish pinnacle (blue arrow), and in the EURUSD last week’s trading session, it also generated a bullish pattern. For this reason, we can expect EURUSD growth to peak at $ 1,1621 on October 16 and resistance at $ 1,723. This resistance is located at the bottom of the weekly resistance zone.
The EURUSD quarterly chart shows a 0.33% increase on Friday trading. The EURUSD was also supported at $ 1,1432 at the bottom of October 9th, and is now indicative of the formation of a twin floor. On Friday, EURUSD was able to move above $ 1.15. Resistors 1, 1542, Resistance 1, 1610-1, 1595 are on the market. The resistance zone mentioned includes the key resistance of 1610, the reopening of October at 1604, the Rand rate 16.16, and the September reopening rate at 1.595.
Price action strategy
Regarding the daily and weekly charts, it is possible to expect further EURUSD movements to continue. Even the downside of EURUSD may be limited by the 1 st quarter of 2012 resistance. Accordingly, EURUSD’s purchase of the EURUSD purchase deal could be completed by repossessing the market at $ 1.15 and creating a full-fledged 4-hour Kundel. The trading profit margin of EURUSD can be set at $ 1.16 at the Rand rate.
Rand rate 1.16, in addition to a good profit margin for the EURUSD purchase deal, is also appropriate for entering the EURUSD sales deal. Not only includes the four-hour resistance, it’s consistent with the high of October 16 at $ 1,1621. It’s possible to range from $ 1.16 to $ 1,000 by placing a loss margin above the 4-hour key resistance at 1.22.2012.