S&P 500 — US Large Cap Index
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Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
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STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
Facts:
- Main trend remains upward from the end of June
- The pair bounced off the key technical support near 1.1580
Recommendation: Trade: Long position on EURUSD at market price Target: 1.1677, 1.1745 Stop: 1.1535
Opinion: EURUSD has been trading in an upward trend recently. Looking at the D1 interval, one can see that the recent downward correction reached the key support, where buyers appeared twice .The area 1.1580 is marked with previous price reactions and lower limit of 1:1 structure. In addition the price sits above the 100-period moving average from the D1 interval. According to the classic technical analysis and Overbalance methodology, continuation of the upward move looks to be the base case scenario. We recommend going long EURUSD at market price with two targets: 1.1677 and 1.1745. We also recommend placing a stop loss order at 1.1535. Source: xStation5
