EURUSD Technical Analysis (9-13 February,2015) | February 7, 2015

EURUSD fell from resistance level after NFP news. It is now staying above near-term support at 1.1300 area. It is a minor support for this pair. If it can break this support, then we can see more fall on this pair. Then target will be 1.1210 area. It is better to take sell position from every retrace on this pair. In weekly chart, we can see doji type candle. It is also a rejection candle which indicates sell signal on this pair.


In Technical Indicators view

In daily chart, MACD indicator is below 0.0 level which indicates its downtrend.

In daily chart, RSI indicator value is 40, so this pair is now on downtrend.

This pair is staying below 50, 100, 200 Moving averages

In summary, all technical indicators are giving confirmation for its downtrend. So our recommendation for this pair is to stay on downside for long term.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.1621

Resistance One (R1): 1.1468

Pivot Point: 1.1379

Support One (S1): 1.1226

Support Two (S2): 1.1137