EUR/USD overview for August 18, 2015

18 August, 2015

General overview

The EU published its June trade balance. The data came out at the level of 26.4B. The German 10-year bond yields are declining relative to their US, UK and Australian counterparts, making European assets less attractive to investors.

The resistance level of 1.1150 was tested twice last week. The repeated level of 1.1130 testing was followed by the active prices decline with the following bullish trend reversal. The pair is trading around the support level of 1.1050.

The price is finding the first support at 1.1050, the next one is 1.0925. The price is finding the first resistance at 1.1150, the next one is at 1.1260.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is correcting.

Trading recommendations

The approach to the level of 1.1050 may lead to a price rebound upwards. The potential rebound targets are the resistance levels of 1.1150, 1.1260.


Source link  
Low activity in asian markets

Asian stock indexes traded mostly in green territory following solid gains on Wall Street in the prior session, but many markets remained close in...

Asian stock markets mostly higher

Asian stock markets started broadly higher this week, with commodity prices pushing some key names in the region to the upside as the dollar corrected downwards...

Market selloff: a mistake, really?

Wall Street top three indexes went down on Monday following last week’s employment report by the US Labor Department. Data showed the economy added...


Asian equity indexes higher

Asian equity indexes were mostly higher on Tuesday following a solid lead from Wall Street as lawmakers were able to revert the government shutdown...

Pressure on dollar is increasing

USD dollar opens a new week under pressure, being at record low levels. The dollar index is currently traded at 90.25 points, the level last seen on the...

Tax reforms remains in focus

Asian equity indexes displayed a mixed dynamic on Wednesday as attention was entirely directed to an ongoing debate in the US over...


CBs refrained from changes

ECB economists now expect that the euro area economy will grow by 2.3% in 2018, well above the expected growth of 1.8% growth forecasted back...

Asian stock indexes drop

Equity indexes in Asia were mainly lower in late hours on Wednesday, as investors’ sentiment was affected by a weak close on Wall Street...

Market sentiment is improving

On Tuesday, global markets were able to change the mood and moved to gain, with some of the European markets recovering all Monday's losses...

  


Share: