EUR/USD: technical analysis 12.03.2019

EUR/USD: technical analysis 12.03.2019

Current trend

The EURUSD pair begins today’s trading with slight bearish bias. In order to continue a downward movement sellers need to decline the price below the level of 1.1230 (Murray [0/8]). In this case, the next targets of sellers will be the level of 1.1200 (Murray [-1/8])-1.1169 (Murray [-2/8]). If the “bulls” manage to raise the rate above the level of 1.1291 (Murray [2/8]), the growth can continue to the area of 1.1322 (Murray [3/8]) – 1.1352 (Murray [4/8]).
The technical picture is mixed. MACD volumes are decreasing in the negative zone. Bollinger Bands and Stochastic are pointed sideways.

Support and resistance

Support levels: 1.1230, 1.1200, 1.1169, 1.1140.
Resistance levels: 1.1261, 1.1291, 1.1322, 1.1352.

Trading recommendations

Short positions can be opened below the level of 1.1230 with the target at around 1.1169 and stop-loss 1.1247.
Long positions can be opened above the level of 1.1291 with the target at around 1.1322-1.1352 and stop-loss 1.1270.