EUR/USD: general review on 17.06.2015

June 17, 2015

Current trend

Despite falling in the beginning of the week, at yesterday’s close the pair gained back the losses and is now trading at 1.1260.

The pair continues to be pressurised by the expectations about possible rate hike in the US, the news is due today at 9 pm (GMT +3). Economists expect the rate to remain at the current 0.25%. However, the USD will gain an additional support if the Fed tips about future rate increase.

Investors should also pay attention to the latest figures on the consumer price index, which are due today at 12 pm (GMT +3). Economists expect an increase by 0.3%, which would positively affect the Euro.

Support and resistance

The price is moving along the sideways channel, which is formed by two moving average lines with periods 20 and 100. The nearest resistance level is 1.1270; support level is at 1.1212.

Trading tips

Open short positions after the consolidation of the price below 1.1212 with the target at 1.1150—1.1100 and stop-loss at 1.1270.

Alternatively, open long positions at 1.1270 with take-profit at 1.1370 and stop-loss at 1.1200.

Publication source
LiteForex information  LiteForex reviews

September 29, 2016
OPEC blinks
Yesterday decision by OPEC to restrict oil supply has pushed the price of crude higher by some 5%. The move took the markets by surprise, with the divisions between Iran (who are still enjoying their return to global markets)...
September 29, 2016
Gold weighed down by US data
The gold price is down for a second straight day today as investors await a raft of data from the US this week which may decide the question of an interest rate hike...
September 29, 2016
Informal OPEC meeting seizes limelight
Global stocks were chaotic on Tuesday with most equities vibrating between losses and gains as the mixture of anticipation ahead of OPEC - informal meeting and ongoing discussions over the results of the first presidential debate created explosive levels of volatility...

FxPro Rating
OctaFX Rating
Vantage FX Rating
Orbex Rating
FOREX.com Rating
HotForex Rating

Anyoption Rating
TopOption Rating
Porter Finance Rating
Binary Brokerz Rating
OptionFair Rating
24option Rating