Paying attention to the 4-hour chart, you will notice that:
- strong resistance for EURUSD formed at 1.1957,
- since the beginning of the current day, the strengths of bulls and bears are approximately equal.
Now let’s look at the indicators:
- The currency rate is sandwiched between moving averages with periods of 55, 89 and 144 (a range of resistance levels 1.1958, 1.2025 and 1.2057) on the one hand and an average with a period of 34 (support level 1.1915) on the other.
- The MACD histogram is still in the positive zone, but it has merged with its signal line and is not giving clear signals at the moment.
- Stochastic Oscillator is in the neutral zone and also does not form clear signals, since the% K line crossed with the% D line.
Due to the lack of clear signals, as well as a pronounced trend, the most correct decision now is to focus on the strong resistance level of 1.1957; if the bulls have enough strength to break it, then their further targets may be the levels 1.1989, 1.2027 and 1.2053.
Otherwise, the bears may seize the initiative, and their potential targets are located at 1.19105, 1.18845 and 1.18375.
Resistance levels: 1.1957 / 58, 1.1989, 1.2005, 1.2025 / 27, 1.2053 / 57
Current price: 1.1951
Support levels: 1.1915, 1.19105, 1.18845, 1.1874, 1.18375
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