EUR/USD: technical analysis 15.03.2019

EUR/USD: technical analysis 15.03.2019

Current trend

On 4-hour chart, EUR/USD is trading above the middle line of the Bollinger Bands and can grow further to the levels of 1.1322 (Murray [3/8]) and 1.1352 (Murray [4/8]). If the instrument cannot consolidate above the level of 1.1322, the correction to the area of the level of 1.1291 (the middle line of Bollinger Bands) can develop. Should prices continue slipping under 1.1291, the 1.1230 (Murray [0/8]) and the 1.1200 (Murray [-1/8]) might try activating a upward rebound. Technical indicators mostly keep a buy signal. Bollinger Bands and Stochastic are pointed upwards. MACD is slowly growing in the positive zone.

Support and resistance

Support levels: 1.1291, 1.1261, 1.1230, 1.1200.
Resistance levels: 1.1322, 1.1352, 1.1383, 1.1413.

Trading recommendations

Short positions can be opened below the level of 1.1291 with the target at around 1.1261-1.1230 and stop-loss 1.1310.
Long positions can be opened above the level of 1.1322 with the target at around 1.1352-1.1383 and stop-loss 1.1300.