EURTRY Ascending uncertainty - D1

Monday, January 20, 2020 12:58 PM

In the EURTRY currency pair, we see a relative upward movement of the price. Also, using the ichimoku technical analysis tool, you can draw proper support and resistance lines. For the EURTRY chart on a daily basis, we can draw a diagonal resistance line and a resistance range that has repelled several price movements in the past 4 months. Given the uptrend on the first business day and the cloud support seen, the price is expected to strike again at the price and resistance level, and given the record we are still expecting the price to fail in the resistance. So the initial price target can be plotted at 6.6907.

The main support and resistance lines for the Pair EURTRY are as follows:

S1 : 6.5340

S2 : 6.5293

S3 : 6.5257

Pivot Points 6.5375

R1 : 6.5431

R2 : 6.5466

R3 : 6.5518

Indicator Analysis for EURTRY Currency Pair:

Up Signal:

MACD(12,26)

Descending signal:

STOCH(9,6)

Williams %R

Highs/Lows(14)

Ultimate Oscillator

ROC

Bull/Bear Power(13)

The technical analysis of moving averages for the EURTRY currency pair is as follows:

Up Signal:

MA 5

MA 10

MA 50

MA 100

MA 200

Descending signal:

MA 20

The key economic news for the currency pair EURTRY in the coming business week:

January 21 : European Central Bank meeting on review of currency of EU member states Euro

January 21 : The publication of profitable investment statistics in the German economy

January 23 : Decision on European interest rates

January 23 : ECB officials' press conference

January 24 : Speech by the President of the European Central Bank