The EUR / USD pair, in 4-hour charts, is trading above the 21 SMA and below the strong resistance of 1.20, also a psychological level, and below the 200 EMA located at 1.2043.
The expectation is still bearish for the EUR / USD pair, for this it must remain below the psychological level of 1.20, in the graph we have drawn this as a double top, each attempt to break has failed and the downward pressure has intensified below of this area.
On the other hand, for a recovery in the EUR / USD, it should break the 200 EMA located at 1.2043 this is seen as a barrier, as long as it remains below this zone, in each corrective attempt, the selling force will take sides and maintain to the limited Euro.
Also, a break below the 21 SMA on the 4-hour charts and a consolidation below the uptrend channel, a very sharp decline to the 1.1840 support level, the 1/8 Murray zone, could occur.
Our recommendation is to buy above 1.1925, because the SMA of 21 is located there and we could be facing a correction and the demand for the EUR / USD, may intensify above 1.19.
Support And Resistance Levels For March 18 - 19, 2021
Resistance (1) 1.1935
Resistance (2) 1.1955
Resistance (3) 1.2014
Support (1) 1.1860
Support (2) 1.1815
Support (3) 1.1798
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Trading tip for EUR/USD for March 18 - 19, 2021
Buy if rebound at 1.1925 (SMA 21) with take profit at 1.1955 and 1.2043 (EMA 200), stop loss below 1.1895.
Sell below 1.1915 (SMA 21) with take profit at 1.1870 and 1.1840 (1/8), stop loss above 1.1950.
