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EURUSD Analysis: Tests 1.2340 area

Written by By Dukascopy Bank Team | 2018-04-16 08:34:37 GMT

The general tendency continues to be northwards; thus, a surge is likely to follow if the Euro surpasses the 55– and 100-hour SMAs at 1.2340. Technical indicators are likewise bullish for this session. A breakout is expected to occur during the second part of the day. The upside target is the weekly R1 at 1.24, while the senior channel is likewise located nearby. 

In case the bearish sentiment prevails, the rate should breach the 200-hour SMA and a two-week channel up. As a result, the Euro should be sent towards the weekly S1 at 1.2260.

EURUSD

 

Interested in EURUSD technicals? Check out the key levels

    1. R3 1.2388
    2. R2 1.2368
    3. R1 1.2349
  1. PP 1.2328
    1. S1 1.231
    2. S2 1.2289
    3. S3 1.227

 

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By Dukascopy Bank Team
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