EUR/USD Technical Overview – March 11

From a specialized point of view, the bounce back from help set apart by 61.8% Fibonacci retracement dimension of the 1.0341-1.2556 up-move currently appears to face some new supply close mid-1.1210s, above which a new episode of short-covering could help the pair to head back towards recovering the 1.1300 handle. Be that as it may, any ensuing up-move may keep on going up against some substantial help and stay topped close to the 1.1350-60 district.

On the other side, the 1.1200 handle, intently pursued by the 1.1180-75 district may keep on ensuring the quick drawback, which whenever broken presently appears to quicken the slide further towards testing the 1.1105 round figure mark. The referenced handle marks slipping pattern line support, reaching out from lows set in Nov. 2017 through August 2018 and Nov. 2018 swing lows, and should go about as an extreme nut to pop open for bearish merchants, at any rate for now.

EUR/USD Daily Analysis – March 11

PENDING ORDER BUY  EUR/USD @ 1. 1247   SL:  1. 1232               TP1: 1.1262    TP2: 1.1277    TP3: 1.1292

PENDING ORDER SELL  EUR/USD @ 1.1227   SL:    1.1243             TP1: 1.1212     TP2: 1.1197     TP3: 1.1182

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John Wat

About: John Wat

Forex analyst with 10 years experience in Forex market.Trading Expert ABC Breakouts, Trendlines breakouts, Supply & Demand, Customized Elliot Wave.