Categories: Technical analysis

EURUSD Wave Analysis – 25 July, 2019

  • EURUSD reversed from support area
  • Further gains are likely

EURUSD recently reversed up from the support area lying between the key support level 1.1125 (which has been reversing the price from the end of April) and the lower daily Bollinger Band.

The upward reversal from this support area coincided with the oversold reading on the daily Stochastic indicator.

EURUSD is expected to rise further and retest the next resistance level 1.1200 (former support from June and the start of July).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: EURUSD

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