{"id":111812,"date":"2018-12-29T11:39:30","date_gmt":"2018-12-29T08:39:30","guid":{"rendered":"http:\/\/ww-vb.mine.nu\/w108\/euro-trading-levels-heading-into-2019\/"},"modified":"2018-12-29T11:39:30","modified_gmt":"2018-12-29T08:39:30","slug":"euro-trading-levels-heading-into-2019","status":"publish","type":"post","link":"https:\/\/hameed.nwar.uk\/sa\/euro-trading-levels-heading-into-2019\/","title":{"rendered":"Euro Trading Levels Heading into 2019"},"content":{"rendered":"

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\nIn this series we scale-back and look at the broader technical picture to gain a bit more perspective on where we are in trend.<\/span> EUR\/USD<\/a> is poised to close nearly 5% lower year-to-date with the pair trading just 1.5% off the 2018 lows. For months now, we\u2019ve been tracking a key support pivot in Euro and the focus remains on a breakout of the consolidation range which has governed price since October. H<\/span>ere are the key <\/span>targets & invalidation levels <\/span>that matter on <\/span>the EUR\/USD <\/span>weekly chart<\/span> heading into the close of the year.<\/span>\n<\/p>\n

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EUR\/USD Weekly Price Chart<\/h2>\n

\"EUR\/USD<\/a><\/p>\n

\nNotes: <\/span>In our last <\/span>EUR\/USD<\/span> Weekly Technical Outlook<\/span><\/a> we noted that price was trading just above a key support pivot with, \u201c<\/span>the broader short-bias remains <\/span>at risk while above this level –<\/span> for now, I\u2019ll be on the lookout for possible price exhaustion on a move towards <\/span>1.13<\/span> again<\/span>.\u201d Nearly three weeks later an Euro has continued to respect this threshold on a weekly close basis with price now testing the monthly range highs into the close of the year. <\/span>\n<\/p>\n

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\nKey weekly resistance stands at <\/span>1.1586-1.16030<\/span> where the March trendline converges on the September outside-weekly reversal close (also the high week close) and the 61.8% <\/span>retracement<\/span><\/a>. A breach \/ close above this threshold is needed to suggest that a more significant low is in place with such a scenario targeting subsequent topside objectives at <\/span>1.1727<\/span> and the median-line \/ 52-week moving average \/ September high at <\/span>1.1800\/15<\/span>. <\/span>\n<\/p>\n

\nA close below <\/span>1.13<\/span> would mark resumption of the broader downtrend (and likely fuel accelerated losses) targeting the key 61.8% retracement of the 2017 advance at <\/span>1.1186<\/span> and <\/span>pitchfork<\/span><\/a> support, currently at ~<\/span>1.1030<\/span>.<\/span>\n<\/p>\n

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\nBottom line: <\/span>Euro<\/span><\/a> has continued to hold above the <\/span>1.13<\/span>-support pivot with the broader short-bias still vulnerable while above this region heading into the close of the year. From a trading standpoint, I\u2019ll continue to favor fading weakness while above targeting highlighted confluence resistance- look for a bigger reaction there IF reached for further guidance. <\/span>\n<\/p>\n

\nEven the most seasoned traders need a reminder every now and then- <\/span>Avoid these Mistakes in your trading<\/span><\/a>\n<\/p>\n

EUR\/USD Trader Sentiment<\/h2>\n

\"EUR\/USD<\/a><\/p>\n