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FxPro Forex Analysis: EURUSD and German 30 Analysis – February 09, 2018

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EURUSD 1-hourly price action capped by falling resistance trend line

Initial upside resistance can be found at the 1.2290-1.2310 levels. Price action is down trending, creating lower highs and lower lows. Sentiment appears bearish, with intraday below pointing to the downside supports at 1.2228, followed by the 1.2200 and 1.2185-1.2167 levels. Alternatively, a confirmed breakout above 1.2310 resistance changes the outlook, targeting additional upside resistances at 1.2330-12345 and 12360-12400.

EURUSD 1-Hour Chart

EURUSD 1-Hour Chart

German 30 (DAX) 1-hourly price action capped by falling resistance trend line

The current upside is capped by the 12265 level. A confirmed breakout higher could target additional upside resistances at 12292 and 12319. Price action is down trending, creating a sequence of lower highs and lower lows. Sentiment appears bearish, with intraday pointing to the initial downside support at 12117, followed by the 12047 and 11988 levels. Alternatively, a confirmed breakout above the 12319 level negates bearishness, opening the way for a retest of additional upside resistance at the 12400-12430 levels.

GER30 1-Hour Chart

GER30 1-Hour Chart



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