EUR/USD: the Euro rallies on investors' interest

30 March, 2015

Current trend
Last week, Germany published strong data on key indexes that supported the European currency, and EUR/USD reached the key resistance level and local high at 1.1000. At the end of the last trading week, the American currency re-appreciated against the Euro against a backdrop of positive statistics for US labour market and weak data on the eurozone's loan sector.

The pair is slowly falling today, currently trading at 1.0830. The publication of consumer price indexes for Germany and the eurozone is worth attention today as the indexes are expected to grow. In its turn, the USA will publish data on personal spending and core price index. Positive statistics from the eurozone will increase investors' demand. But the Greek issue remains the key growth catalyst of the EUR/USD: if a new loan agreement is reached in the shortest time, the Euro may start growing in price.

Support and resistance
In the medium term, the pair is expected to rise to a level of 1.1000. Breakdown of the local low will provide a way to the levels of 1.1110 and 1.1245. If US statistics turn out to be upbeat, the pair will consolidate in the sideward range of 1.0800-1.1000. However, the trend is still downward; therefore long positions should be opened carefully with Stop Loss below 1.0770.

Support levels:  1.0800, 1.0770, 1.0680, 1.0615, 1.0550, 1.0460.
Resistance levels:  1.0900, 1.0950, 1.1015, 1.1050, 1.1110, 1.1245.

Trading tips
With an eye to appreciation of the oversold euro, long positions should be opened with a short Stop Loss and profit fixing at 1.1110 and 1.1245.

Dmitry Likhachev
Analyst at LiteForex Investments Limited

S&P500: Bearish sentiments are strong in the market

US stock indices went up on Wednesday after the release of the minutes of the US Fed meeting in January, which was devoted to the US monetary policy. Dow Jones Industrial Average rose by 1.6%, Nasdaq Composite - by 2.2%.

Weekly review for February 15-19, 2016

Past week was marked by a two-day speech of Janet Yellen, the head of the US Fed. Mrs. Yellen did not give a straightforward answer regarding the interest rate increase at the US Fed meeting in March...

XAU/USD: gold is growing on February 12, 2016

On Thursday, the price of gold strengthened by 4% and reached its year highs. The price has been growing amid an increase in demand for safe-haven assets, such as gold and the Yen...


Brent: oil reserves and oil prices have reduced

Yesterday, US Ministry of Energy announced about unexpected decline of oil and oil products reserves by 754 million barrels over the last week. Spot-price of crude oil Brent has grown over 31.80 USD per barrel...

Yen has broken down and consolidated below support level

Over the past 2 weeks the Yen has significantly strengthened its positions against the USD due to the increasing demand for the safe-haven currency. Mixed macro-economic data on the US economy has decreased a chance that the US Fed will tighten monetary policy...

EUR/USD has grown against the USD breaking down strong resistance level

The currency pair is traded at the strong level of 1.0960 –1.1060. In case of maintenance and testing of the level and respective confirmation (for example, a pattern Price Action), we recommend to open long positions. Stop order can be placed below the signal line...


EUR/USD review of the week: USD fell against the major currencies

Despite that fact that the data on Non-FarmPayRolls was below the forecast (151 000 against the forecast of 190 000 and 262 000 new jobs in December), the USD has grown against the major currencies. The rise was caused by the other data on the US labor market in January...

Brent: completion increases on February 05, 2016

While market participants are waiting for the release of NFPR (Non-Farm PayRolls), oil prices are gradually declining since the opening of the trading day and at the beginning of the European session...

Brent: will oil market swing back to pessimism?

API (American Petroleum Institute) report, released this Tuesday, showed that last week US oil stocks rose by 3.8 million barrels. Obviously, it was a bad news for oil prices, as heavy stocks of oil in the USA creates situation when supply outruns demand in the world market...

  


Share: