EURUSD weekly analysis 2016-04-week3

24 April 2016, 19:40
oleksandr bilokon


The expected pullback from the (Down W1 broken channel) with testing key resistance levels formed (up H4), but the activity of bulls was spent on overcoming (EMA120) and key levels and not enough growth to the calculation of weekly and monthly resistance levels (R1-w, R1-m). By reducing the rate of the 3rd point of the trend (up H4) initiative intercepted the other side, leading to a breakdown (up H4 broken) to the next milestone (middle of Up W1 channel). Then there was an unsuccessful attempt to revenge bulls formed () with its correction and return to course down (Down W1 broken channel).

 Last week the price has passed this way from 1.1301 (Open) growth to 1.1384 / 87 (key resistance levels), reduced to 1,1282 (middle of Up W1 channel), to rebound (down H4,) with its correction to 1.1464 ( High), then was carried down with the rebound breakdown (key levels, EMA120, up H4 broken, middle of Up W1 channel, and to decrease (down W1 broken) with a minimum of 1,1217 (Low) and Close (1,1223) . 


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