Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Technical analysis of EUR/USD for September 26, 2018

September 26, 2018 Analytics

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EUR/USD continues to trade near its highs above 1.17 but below the 1.18 area. Prices tried to push back above 1.18 yesterday only to meet selling pressures and resistance. Volatility is expected to rise tonight after the FOMC announcement.

analytics5bab290b1747c.png

Blue line – support

Red line – support

Blue dots – medium strength support

Dark blue dots – maximum strength support

EUR/USD remains in a short-term up trend as long as price is above 1.17-1.1660 area. Tonight after the FOMC we might see volatility rise. I would not be surprised to see prices fall near 1.17 and then bounce back up. Bulls do not want to see another run to 1.18 and another rejection. Bulls do not want to see prices break below 1.17 and stay below it for more than 30 minutes. If this happens, we should be prepared for a bigger pull back towards 1.16.

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

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