EUR/USD: technical analysis 26.03.2018

EURUSDH426032018

Current trend

EUR/USD has tested the support level of 1.2374 (Murray [7/8]) and was slightly corrected downwards, but the upward trend maintains.

If the price is set above the level of 1.2374, the upward trend can restore, and the instrument can retest the resistance level of 1.2390 (Murray [8/8]), 1.2420 (Murray [+2/8]).

Now the technical indicators reflect the low trading activity and moderate developing of the upward trend.

Bollinger Bands are converging.

MACD histogram is in the positive zone keeping a signal for the opening of buy positions.

Stochastic’s lines are pointed sideways.

The downward trend will be restored after the price is set below the level of 1.2359 (Murray [6/8]).

In this case, the next targets of sellers will be the levels of 1.2329, 1.2298.

Support and resistance

Support levels: 1.2359, 1.2344, 1.2329, 1.2313, 1.2298.

Resistance levels: 1.2374, 1.2390, 1.2405, 1.2420.

Trading recommendations

Long positions can be opened above the level of 1.2374 with the target at around 1.2420 and stop loss 1.2360.

Short positions can be opened below the level of 1.2359 with the target at around 1.2329-1.2298 and stop loss 1.2380.