Eurusd october 24th 2018 analysis
EURUSD rose yesterday at $ 1,1493 from the high of yesterday. For long-term prospects, EURUSD buyers and sellers are on the top of the weekly trading range of 1.14545-1.1312, and the EURUSD is likely to climb to the weekly resistance level of 1,1862-1.1717. This weekly resistance zone since early June 2018 limits the upside of EURUSD. For the sake of analyzing price movements, the yellow range represents the neutral phase of the market.
The EURUSD weekly chart, the daily support of 1.1462 (back in early 2015), still maintains its position. Although this support currently has a shaky situation, a bullish return from this range could occur, bringing the EURUSD to its high of 16 October in 1621 and a resistance of 1,1723 dollars. This resistance is located at the bottom of the weekly resistance zone. In addition, you should consider the daily chart, which is somewhat upward.
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Price action strategy
As reported in the yesterday’s Peak Performance Report, the support for the four-hour dipped floor at $ 1,1432 is the next target in the EURUSD’s quarterly chart, which is slightly offset by the demand range of 1,1423-1.1394. The fake failure of the 4-degree double foam support and the EURUSD’s penetration to the 4-hour demand area can be a strong buying signal for EURUSD. Such an upside-down pins will be ideal for entering the EURUSD purchase deal. The trading profit margin can be set at $ 1.15.