EUR/USD ANALYSIS

Weekly:

Screen Shot 2018-01-14 at 12.58.00

The weekly timeframe shows a downtrend after breaking and now retesting a previous descending triangle pattern. Price has also closed above the inner weekly trend line and may retest the outer weekly trend line.

Daily:

Screen Shot 2018-01-14 at 12.58.42

On the daily chart price has clearly rejected the daily counter trend line, also breaking and retesting the weekly trend line. The break of the weekly and daily resistance level t 1.20491 indicates a good long opportunity.

4 Hour:

Screen Shot 2018-01-14 at 12.59.16

The 4HR shows a long entry after a strong bullish candle breaking the previous resistance level of 1.20491. Target price will be 1.24900 which is the next daily resistance level and will also reach the weekly outer trend line.

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