8th July 2019 - EURUSD Tech Analysis

Walid Salah Eldin

Master Trader
Feb 15, 2016
216
6
84
47
Egypt
www.fx-recommends.com
EURUSD Daily Chart:

EURUSD-Daily-08-07-2019 02-17-08 م.jpg

EURUSD is trading now close to 1.1215, after it has extended its decline from its lowered formed high on last Jun. 25 at 1.1412 below last Mar. 20 peak at 1.1447.

After forming this lower high, The pair dropped again below its daily SMA200 and following last Friday slide extension, it became trading below its daily SMA50, its daily SMA100.

EURUSD is now in its second day of being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.1407, as the pair resumed the slide following consolidation close to 1.13.

EURUSD daily RSI-14 is referring now to lower existence inside the neutral region reading 42.014

While EURUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line in its oversold area below 20 at 10.349 in intersection with its signal line which is just higher at 9.813, after sliding inside the neutral area with no negative crossover inside of it, as the previous consolidation around 1.13 was short-lived


Important levels: Daily SMA50 @ 1.1237, Daily SMA100 @ 1.1258 and Daily SMA200 @ 1.1329

Experienced S&R:

S1: 1.1181

S2: 1.1106

S3: 1.0838

R1: 1.1214

R2: 1.1447

R3: 1.1514



Have a good day


Kind Regards

Global Market Strategist of FX-Recommends

Walid Salah El Din