Technical Analysis EUR/USD 16 July


Today's technical analysis for July 16, the EUR / USD pair is dominated by bearish sentiment to complete consolidation in the Asian session, at strong resistance levels of 1.12725 - 1.13050 therefore it is advisable to wait for the breakdown of a strong support level, which can open the way to the levels 1.12275 - 1.11765 during London and New York Sessions.

Thus, the best placement opportunities for transactions can be initiated before or during the London session from 1.12520 where Fibonacci levels indicate. The MACD histogram is still located in the positive zone, but already below its signal line, continues to gradually decrease and thereby gives a signal to sell. Stochastic Oscillator is in the neutral zone and currently does not generate clear signals. In the alternative scenario, one should wait for the breakdown of the strong resistance level of 1.12835, then the target of investors will be the levels 1.13230 - 1.13725.

In essence, today's expected important economic news in particular can lead to significant volatility of key pairs, which can stimulate a significant movement to fluctuations during the London and New York sessions. This enables investors to take advantage of Buy / Sell transactions from minimum / maximum levels throughout the day.

Analysis of EUR / USD

Price at the moment: 1.12620

Resistance Level 1: 1.12725
Resistance Level 2: 1.12835
Resistance Level 3: 1.12940
Resistance Level 4: 1.13050

Support Level 1: 1.12520
Support Level 2: 1.12415
Support Level 3: 1.12310
Support level 4: 1.12100