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Home » Daily Technical Reports » EUR/USD Today Technical Report 28/03/2016

EUR/USD Today Technical Report 28/03/2016

EUR/USD traded in a quiet mode on Friday, staying below the resistance of 1.1190 (R1). The price structure on the 4-hour chart remains higher peaks and higher troughs and as a result, I would expect a clear move above 1.1190 (R1) to signal that the 17th – 25th of March retreat was just a corrective move. Such a break is likely to open the way for the next resistance zone of 1.1260 (R2). Our short-term oscillators support that the forthcoming move is likely to be to the upside. The RSI turned up again and now looks to be headed towards its 50 line, while the MACD, although negative, has bottomed and now looks able to move above its trigger line. Switching to the daily chart, I see that EUR/USD is still trading between the 1.0800 key zone and the psychological area of 1.1500. Therefore, I would keep the view that the broader trend remains sideways.

EURO 28

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