EUR/USD consolidates around 1.13400

14 December, 2018

  • Prev Open: 1.13681
  • Open: 1.13595
  • % chg. over the last day: -0.04
  • Day's range: 1.13363 – 1.13649
  • 52 wk range: 1.1214 – 1.2557

The financial market participants are evaluating the results of the ECB meeting. The regulator, as expected, kept the fundamental parameters of the monetary policy at the previous levels. The Bank of Europe is concerned by the risks on the external markets and therefore adjusted its EU GDP growth prospects for 2018-2019 to the worse. The EUR/USD currency pair is consolidating around 1.13400-1.13650. Positions should be opened from these levels. Important economic reports will be published today.

The Economic News Feed for 14.12.2018:

  • - Manufacturing PMI in Germany (EU) – 10:30 (GMT+2:00);
  • - Several Reports on Business Activity (EU) – 11:00 (GMT+2:00);
  • - Retail Sales Reports (US) – 14:45 (GMT+2:00);

There are no precise signals: 50 MA has crossed 200 MA.

MACD histogram is around 0.

The Stochastic Oscillator is in the neutral zone, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.13400, 1.13100
  • Resistance levels: 1.13650, 1.13900, 1.14150

If the price fixes below the support level of 1.13400, you should look into opening short positions. The price will move toward 1.13000-1.12800.

Alternatively, the quotes can grow to 1.13900-1.14150.

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