EURUSD Technical Analysis Report – 15-03-2020
Weekly Chart (1.1103)
As per EURUSD weekly chart and analysis, we are expecting EURUSD to be range bound in between 1.0804 and 1.1747 levels for the next few weeks. Major long term support for EURUSD is around 1.0804 levels and we are expecting EURUSD to start appreciating from that level but fall below 1.0804 levels may trigger selling pressure for EURUSD to depreciate further. Major resistance for EURUSD is around 1.1747 levels and breakout above 1.1747 may trigger buying pressure and may create room for EURUSD to appreciate further.
Major Support and Resistance:
Resistance: 1.1360, 1.1470, 1.1747, 1.2048, 1.2470
Support: 1.1001, 1.0910, 1.0804, 1.0765, 1.0414, 0.9511
Any breakouts of these support and resistance levels are important as breakouts may trigger further movement in the same direction.
Trading with proper stop loss (may be around 30 pips) depending upon the volatility will limit the trade risk exposure. Any trigger of stop indicates further revision of strategies as stop loss trigger can drag the prices further in the same direction of stop loss or a change in price direction. So one should be careful and should watch the prices for some time before taking any decision on such events.
Major Support and Resistance:
Resistance: 1.1360, 1.1470, 1.1747, 1.2048, 1.2470
Support: 1.1001, 1.0910, 1.0804, 1.0765, 1.0414, 0.9511
Any breakouts of these support and resistance levels are important as breakouts may trigger further movement in the same direction.
Trading with proper stop loss (may be around 30 pips) depending upon the volatility will limit the trade risk exposure. Any trigger of stop indicates further revision of strategies as stop loss trigger can drag the prices further in the same direction of stop loss or a change in price direction. So one should be careful and should watch the prices for some time before taking any decision on such events.
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