The euro ended a nine-month
downtrend in the middle of this month, after a year of steady decline due to
several EU problems, and also due to the recent weakening of the US dollar
We now have good buying
opportunities on most of the EUR pairs, but we prefer to trade with distant
targets on a couple just below
Euro Yen medium and long term
buying targets
Since the last visit to the 127
areas on 13 November the pair continued to climb slowly targeting the first of
November, the price behavior of the pair indicates the continuation of the
climb even if we face some temporary decline
Technically and on the MACD Alerts
- the gap is still widening between the MACD lines and none of them crossed the
zero line until now, which means that we have a lot of upside that might not
stop at the 130.13 resistance resistance that buyers now set as their final
target.
The biggest view on the daily
chart is that the strong support levels are at 125, the 131 levels do not
represent a difficult resistance area, while the strong resistance zones start
from 132 and not before, surpassing this area brings us back to the beginning
of the year immediately at 137
Trading Recommendation
Buy the pair from the following
levels
128.50
127.50
Stop loss 125.50
Take the first profit 130.20
Take Second Profit 131.00
Take the third profit 132.50
Trading stability above 132 gives
us an opportunity to target 134 with a stop loss adjustment to the entry point
EURUSD buying targets over the
medium and long term
The pair ended the downward trend
extending from 16 January 2018 on 12 November 2018, a cycle that lasted less
than a year due to many problems in the European Union, and also because of the
strength of the US dollar, which is declining recently
Technically and on the MACD Alerts
indicator - we may see some declines this week but it will keep bearish
The biggest view of the pair and
on the daily chart is a clear confirmation of the end of the 9-month downtrend,
the strongest resistance at 1.12, the 1.18 area, which we are placing in the
distant targets only represent 50% Fibonacci levels and the breach of this area
confirms the positive outlook and the possibility of targeting areas of February
2018 one more time
The stability of trading above the
1.18 area gives us the opportunity to clearly target 1.22 area and is just
beginning to return to 1.25
Trading Recommendation
Buy the pair from 1.13 areas and
1.12 area
Stop loss at 1.11
First TP 1.149
Second TP 1.172
Third TP 1.188
Fourth Profit 1.2050 ,Trading
above this area gives us the opportunity to target 1.255 with stop loss
adjustment to entry levels
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