DivisasDolar market analysis functions under pressure! Euro Dollar – A positive outlook as we are above 1.3635 The euro rose to break the resistance of 1.3734, 60 pts jumping over it, coming very close to 1.38, but without achieving the first aim of 1.3838. This projected increase occurred as a result of the breakdown of the triangle upward, and positive technical outlook following this break, we had already discussed this on Friday. To maintain this positive outlook, the euro should remain above the important support for the short term 1.3635. But of course, a correction shall not prejudice the outcome as long as it remains above this bracket. The nearest support is 1.3726 in the short term, and its rupture would indicate a normal correction after the last increase, the ideal target located at 1.3635, the most important support for the moment. Only if it breaks this level, additional activity is expected downward heading towards 1.3543.
In Concerning the resistance, is located at 1.3768, and its rupture would indicate a continuation of the increase that followed the breakup of the triangle. The objectives of such a break would be the important 1.3838, and after this we could see 1.3928 as the euro is close to important reference point 1.40. Support: 1.3726: Support intraday important. 1.3635: Level of re-test trend line breaks in a triangle formation. 1.3543: Low of 10 March. Resistance: 1.3768: Fibonacci 61.8% for the short term.
1.3838: Rise of February 9. 1.3928: Low on July 3. Analysis by: Forexpros.es Munther involving MarjiExoneracion of Liability: The operations of futures, options and foreign exchange carries a significant associated risk and may not be suitable for all investors. Should consider carefully whether your particular situation before you have the knowledge, experience and resources necessary to operate in these markets. You can lose all the capital invested, or that their losses exceed the funds originally deposited. Follow our advice, opinions and recommendations and make money with forex.Saludos, Forexpros.es.