Eurusd october 18th 2018 analysis
During yesterday’s trading, buyers backed the US dollar and pushed the EURUSD. EURUSD has fallen from $ 1.16 to a range of $ 1.15. Under $ 1.5, the key support is 1,1460 and the quarterly demand zone is 1,1423-1. 1394. The RSI is also indicative of the EURUSD’s entry into the saturation zone.
However, although the weekly demand zone kept its position at 1,1445-1.1312, there is still no sign of the presence of buyers in the market. On the daily chart, EURUSD is also involved with the bottom of the support zone of 1.51583-1.779. The failure of the daily support zone can bring EURUSD to the weekly demand zone at 1,1445-1.1312.
Price action strategy
Entering the EURUSD purchase deal from $ 1.15 can be risky. Although the Rand rate is $ 1.15, with Fibonacci support at 1.505, but long-term charts point to a weakening of EURUSD. Accordingly, if EURUSD falls below $ 1.5, it will receive $ 1,460 a quarterly support. However, entering a sales deal below $ 1.15 could be risky due to the day-to-day support. If you sign up for a EURUSD sale, you can buy EURUSD from the range of 1,1460 and 1,1445 after settling your profit and leaving the transaction.