empty
 
 
pt
Suporte
Abertura instanânea da conta
Plataforma de negociação
Depósito/Retirada

12.07.202114:38 Forex Analysis & Reviews: EUR/USD Hot Forecast for 12 July

Exchange Rates 12.07.2021 analysis

At mid-day on Friday, the EUR/USD passed the resistance zone above the 1.1860 level and the 200-hour simple moving average. By doing so, the price passed the last technical resistance up to the 1.1923 level where the weekly R1 simple pivot point is located at.

Moreover, 4 hourly MACD has diverged in favor of the bulls. MACD histograms has produced higher lows, contradicting lower lows on the price chart. That bullish divergence indicates a potential for a corrective bounce which confirms the reversal chart pattern formation (a falling wedge) after a breakout of the pattern.

In theory, the currency exchange rate is expected to surge up to the weekly R1 simple pivot point at 1.1923. However, note that the price could find resistance at the round level of 1.1900.

On the other hand, a potential decline would find support in the weekly simple pivot point at 1.1852 and near the swing low.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Jan Novotny,
Analytical expert of InstaSpot
© 2007-2025
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

Não pode falar agora?
Faça sua pergunta no chat.