FX.co ★ Technical analysis of EUR/USD for April 23, 2015

Overview:

• The first key level will be set at 1.0603 and the second key level is seen at 1.0725 on April 23, 2015. Also, it should be noticed that the levels are coinciding with support one and the weekly pivot point respectively. Equally important, the price of EUR/USD pair has still been moving between the levels of 1.0687 and 1.0827. Additionally, it should be noted that the range will be about 140 pips from today until tomorrow. Furthermore, the trend has been very clear indicating upward direction since last week. Sellers are asking for a high price. Accordingly, we expect that the trend is going to call for bullish market from the levels of 1.0687/1.0700 in the H4 chart. As a result, buy at the this area with the first target at 1.0760 and it might resume to 1.0827 in order to test the ratio of 61.8% Fibonacci retracement levels at the same time frame. On the other hand, your stop loss should be placed below the support line and it will be helpful to set it at the level of 1.0642.

Intraday technical levels:

Date: 23/04/2015

Pair: EUR/USD

• R3: 1.0871
• R2: 1.0836
• R1: 1.0779
• PP: 1.0744
• S1: 1.0687
• S2: 1.0652
• S3: 1.0595