Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

EUR / USD for September 18: the struggle for key resistance continues

September 20, 2018 Analytics

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EUR / USD

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Despite the expectations, the players on the rise once again rose to the key resistance. The struggle for 1.1708-50 continues. Weakness, manifested during the testing of this zone during the last three weeks, is unlikely to be overcome easily and quickly. Today, the support retain their location – 1.1624 (daytime Tenkan) – 1.1562-73 (weekly Senkou Span B + monthly Senkou Span A + day cloud) – 1.1526-18 (weekday Tenkan + daytime Kijun).

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The situation has not undergone any significant changes. The key zone of resistance retains its importance and location of 1.1708-50 (upper-time levels + maximum extremum + target for H4 cloud breakdown). The pair climbed to the boundaries of the zone, but again tests only its lower limits. In addition to the most important supports noted above, today we can distinguish between 1.1650-60 (Kidzhun N4 + Kijun N1 + N1 cloud). This support is responsible for the main advantage at the lower time intervals.

Indicator parameters:

All time intervals 9 – 26 – 52

The color of indicator lines:

Tenkan (short-term trend) – red,

Kijun (medium-term trend) – green,

Fibo Kijun is a green dotted line,

Chinkou is gray,

Clouds: Senkou Span B (SSB, long-term trend) – blue,

Senkou Span A (SSA) – pink.

The color of additional lines:

Support and resistance MN – blue, W1 – green, D1 – red, H4 – pink, H1 – gray,

Horizontal levels (not Ichimoku) – brown,

Trend lines – purple.

The material has been provided by InstaForex Company – www.instaforex.com

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