31st August 2018 - EURUSD Tech Analysis

Walid Salah Eldin

Master Trader
Feb 15, 2016
216
6
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Egypt
www.fx-recommends.com
EURUSD-Daily-31-08-2018 12-14-10 م.jpg
After bouncing up from 1.13 level, EURUSD could step on 1.1529 forming intermediate supporting level but it failed to have a path above 1.1750 key resistance level to step down again to be traded at this current level.
EURUSD is now in its ninth consecutive day of being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.1474.
The pair is still trading above its daily SMA50 but it is still undermined over longer range by continued existence below its daily SMA100 and also its daily SMA200.
EURUSD daily RSI-14 is referring now to existence inside the neutral region reading 56.894
While EURUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line at 70.916 inside its neutral area leading to the downside its signal line which is higher in the same area at 78.679, after negative crossover inside the overbought area directed it to this downward.

Important levels: Daily SMA50 @ 1.1616, Daily SMA100 @ 1.1740 and Daily SMA200 @ 1.1958
S&R:
S1: 1.1529
S2: 1.1300
S3: 1.1109
R1: 1.1750
R2: 1.1851
R3: 1.1996

Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din