EURUSD Technical Analysis (2-6 February,2015) | January 31, 2015

EURUSD was in ranging zone last week. Ranging area was between 1.1260-1.1380. So with the breakout of this ranging zone we can get rapid movement. If break 1.1380, then we can buy and target will be 1.1530 area. If it break 1.1260, then we can sell and target will be 1.1100 area. We can some pin bar and rejection candle in H4 time frame. It indicates selling pressure on this pair. So our recommendation is to wait for breakout of this ranging zone.


In Technical Indicators view

In MACD indicator, market price is staying below 0.0 level in daily chart. So indicates sell for this pair.

RSI indicator is staying at 32 level in daily chart. So it also indicates it down pressure in this pair.

Different types of Moving averages are also giving sell signal in this pair.


In summary, we can say, this pair is still on down trend. So we should stay on downside for long term.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 1.1591

Resistance One (R1): 1.1438

Pivot Point: 1.1267

Support One (S1): 1.1114

Support Two (S2): 1.0943