Euro US Dollar: inside bar pattern, possible retracements

Euro US Dollar short term view leaves assume movements between support and resistance levels. Inside bar pattern on daily chart.

Euro US Dollar close slightly lower. Friday trading session ends at 1.1153 (-0.21%). Inside bar pattern drawn on daily chart. The short term view leaves assume a price movements between support and resistance levels.

Euro US Dollar inside bar pattern

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
The price is above the 14 days moving average (SMA value is 1.0993). The short term view is therefore bullish, however for today trading session we can’t exclude retracements towards the most significant support levels.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 11/03/2016

Performance: 7 trading days= +1.89% – 15 trading days= +1.16% – 30 trading days= +2.36%
Resistance levels: R1= 1.1215 – R2= 1.1278 – R3= 1.1408
Pivot Point: 1.1148
Support levels: S1= 1.1085 – S2= 1.1018 – S3= 1.0888


DAILY TRADING SIGNALS

Buying opportunity above 1.1179 targets minor resistance at 1.1219 and perhaps as far as strong resistance at 1.1246, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 1.1294.

Selling opportunity below 1.1124 targets minor support at 1.1086 and perhaps as far as strong support at 1.1058, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 1.1007.