Bullish Engulfing on EUR/USD

Bullish Engulfing on EUR/USD

The current technical pattern indicates a possible correction of the EUR/USD currency pair after a significant fall in the past two months. Near the round level of 1.16000, a classic pattern of the Price Action, Bullish Engulfing, (D1 timeframe), which currently acts as a reversal formation, has been formed. The EUR/USD quotes are testing the key resistance at 1.17000. We recommend paying attention to this situation.

In case of breakdown and retest of the 1.17000 mark, it is necessary to consider buying EUR/USD. The closest target for fixing profit is the resistance level of 1.18250. In the medium term, the trading instrument may reach the level of 1.19500-1.20250. Confirmations and entry points to the market should be looked for on lower timeframes. When following the positions, we recommend using a trailing stop.

by JustMarkets, 2018.06.04

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

Buka Akaun

Dapatkan Analisis Percuma

* ruang yang diperlukan
Artikel Terakhir
Semua Artikel
Apakah Konsep Utama Analisis Teknikal?
Penganalisis teknikal menggunakan carta dan graf untuk menganalisis trend, pola dan data pasaran yang lain untuk mengenal pasti isyarat beli dan jual. Konsep utama analisis teknikal adalah untuk menganalisis sejarah harga dan data volum untuk membuat ramalan tentang pergerakan harga di masa akan datang dalam pasaran kewangan.
Baca lagi
Apa itu Analisis Kaki Lilin?
Analisis kaki lilin adalah kaedah popular yang telah digunakan dalam perdagangan Forex untuk menganalisis pergerakan harga dan membuat keputusan perdagangan.
Baca lagi