EUR/USD: the Euro rallies on investors' interest

March 30, 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

Publication source
LiteForex information  LiteForex reviews

October 21, 2016
Gold prices drop in Asia amid stronger greenback
On Friday, gold dropped during Asia trade amid a strengthening greenback as well as surging chances of a rate hike weighing on the hedge commodity...
October 21, 2016
ECB holds the rate unchanged with the pressure on Draghi
After a brief upturn seen in the late Asian trading, the currency retreats to the Wednesday close showing a tepid response to the ECB policy update. The New York FED leader William Dudley comments offered a support to the Dollar rally although the focus remained on the US inflation...
October 21, 2016
EURGBP Tests Major Support
This morning we saw the release of German PPI YoY and MoM figures for September. The former fell to -1.4%, compared to expectations of -1.2%. The latter was -0.2%, in line with expectations...

Grand Capital Rating
Larson&Holz IT Ltd Rating
FXCM Rating
OANDA Rating
Tickmill Rating
FxPro Rating

IQ Option Rating
Banc De Binary Rating
TropicalTrade Rating
Porter Finance Rating
OptionFair Rating
Anyoption Rating