Leonid graduated from Donetsk National Technical University, specialization "Automation and process control". He came to the market five years ago. As a basis of trade he uses indicator «Murray levels» , also prefers the classical technical analysis.

EUR/USD: on the verge of crossing two ST

Leonid Varfolomeev

After working pattern 6/8 (1.1597) - 2/8 (1.1353), the price is trying to breakdown 2/8. Formally the bullish trend and an extremely small distance between STD1 and STH4 signal a possible return to the area of level 3/8 (1.1414), its breakdown would lead to an increase to 4/8 (1.1475). In favor of the growth horizontal STD1 also advocates, and not a change of color. An alternative unlikely scenario is a breakdown of the level 1/8 (1.1292) and a further decrease to the final of support at the level 0/8 (1.1230).

Trade Recommendation:

Buy – 1.1370; sl - 1.1320; tp1 – 1.1415; tp2 – 1.1470.



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