EURUSD december 4th 2018 price action analysis
The euro began a strong new trading week and reopened against the US dollar with 30 pip positive votes. After EURUSD peaked at $ 1,1379, euro buyer power weakened as well. We saw EURUSD’s downside rising, with a bullish uptrend and EURUSD eventually finishing the day at around $ 1,1352. On the EURUSD chart of the four-hour chart, the two green areas specified for the EURUSD deal are appropriate.The first range is the Rand rate of $ 1.14, which is matched by the resistance line line drawn from the peak of January 11, 1992, and the second Rand rate is $ 1.13, which is plotted with a support line of 1.1215 as well as a rate The reopening of November is in compliance with 1.1314.
On the EURUSD weekly chart, the pair is caught between resistance 1.1465 dollars and weekly demand 1.1212-1.1119. On the daily chart of EURUSD, the AB = CD pattern appears right at the top of the weekly demand zone. If the pair returns to the top before completing the AB = CD pattern, the next target would be a resistance of $ 1.1455, which is consistent with the two Fibonacci levels 61.8 and 38.2% at 1.1469 and 1.1443.
Price action strategy
Given that Rand rates 1.13 and 1.14 are slightly consistent with long-term charts, market reactions to these levels are unlikely to continue. Conservative traders can stay ahead of the purchase price before entering a buy or sell transaction. The trading profit margin of 1.14 is Rand rate of $ 1.13 and the trading profit margin of $ 1.13 is the Rand rate of $ 1.14.