EUR/USD analysis for January 17, 2019 - ConsultFX

EUR/USD analysis for January 17, 2019


Recently, EUR/USD has been trading sideways at the price of 1.1400. According to the H4 time – frame, I have found that there is a fake breakout of the yesterday's low at the price of 1.1377, which is a sign that selling looks risky. I also found that there is the rejection of the lower Keltner band and the hidden bullish divergence on the stochastic oscillator, which is another sign of the strength. My advice is to watch for buying opportunities.

Trading recommendations for today: We will go long on EUR/USD at 1.14003 with the targets at 1.1453 and 1.1490 and protective stop below 1.1370.

The material has been provided by InstaForex Company -