Forex Technical Analysis of EURUSD for February 15, 2016 | Forex Signals Market
Sunday, February 14, 2016

Forex Technical Analysis of EURUSD for February 15, 2016

Support                              -   S1 : 1.1201 | S2 : 1.1147 | S3 : 1.1081
Resistance                          -   R1 : 1.1320 | R2 : 1.1387 | R3 : 1.1440
Main Trend                       -   Bullish
Intraday Trend                 -   Bullish

Following all the rules of forex technical analysis on 4H chart for the exchange rate EURUSD we can see that the price is moving within an upward channel. EMA(50) and EMA(200) have an upward cross between them. The price is above EMA(50). The RSI is at 50 level and MACD is with reduced momentum.

Considering all the details from the charts of forex technical analysis we can detect all critical levels and trading targets for H1 and H4 timeframes:

Forex Technical Analysis

4H Chart


The area 1.1269  – 1.1299   is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.1365, 1.1435, 1.1470, 1.1530, 1.1555, 1.1600.

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.1200, 1.1155, 1.1110, 1.1060, 1.1025, 1.1000.

1H Chart


The area 1.1247 – 1.1259  is a neutral zone.

Bullish scenario: If price moves upwards and close above the neutral zone, then the upward trading targets will be: 1.1280, 1.1315, 1.1345, 1.1375, 1.1410, 1.1435, 1.1465, 1.1500.
Forex Technical Analysis

Bearish scenario: If price moves downwards and close below the neutral zone, then the downward trading targets will be: 1.1215, 1.1185, 1.1160, 1.1135, 1.1110.

There is a Bearish Harmonic Pattern on the daily chart: A Nen Star.

Using the above elements of forex technical analysis, everyone can plan his own personal forex trading strategy. We note the need to use stop-loss levels.

You agree with our estimates? If you have another point of view, you can write your opinion in comments.

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