Technical review of the EUR/USD 17.02.2014

Euro can reach its maximum against USD if it manages to stay above one important support level on day graph. If EURUSD is above Ichimoku Cloud support level (1.3690) by the end of the day then it is very likely that there will be a further growth. If this technical support remains then increasing Bollinger Bands on the day-graph can be considered  as another positive indicator. These two bullish technical signals can cause EURUSD increase above maximum of 1.3739 (January 24^th) and maximum of Bollinger Bands of 1.3831 on the week-graph.

Recommendation: we open long position if the level is breached and there is a clear fixation above the strong intermediate resistance level of 1.3690 with small stakes and we increase our stakes in case the level of 1.3740 is breached with a short-term aim of 1.3820 and with a long-term goal of 1.3900.

Andrey Batensky​