USD strengthened against the majors

17 December, 2018

  • Prev Open: 1.13595
  • Open: 1.13004
  • % chg. over the last day: -0.48
  • Day's range: 1.12965 – 1.13183
  • 52 wk range: 1.1214 – 1.2557

Last week USD once again strengthened against the major currencies. The USD index (#DX) updated the annual maximums. On Friday, December 14, EUR/USD saw an aggressive sell-off. The quotes fell by more than 80 points. The USD was supported by the positive retail sales report in the US. The key event this week will be the Federal Reserve meeting. The financial market participants expect the regulator to increase the key interest range by 25 basis points to 2.25%-2.50%. You should open positions from the key levels.

At 12:00 (GMT+2:00) the EU will publish the Customer Price Index.

The price fixed below 50 MA and 200 MA which shows the power of the sellers.

MACD histogram is in the negative zone but above the signal line, which gives a weak signal to sell EUR/USD.

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: 1.13000, 1.12700
  • Resistance levels: 1.13200, 1.13450, 1.13650

If the price fixes below 1.13000, the quotes are expected to fall further. The movement will tend toward 1.12700-1.12500.

Alternatively, the currency pair can recover toward 1.13450-1.13600.


Source link   Presented by JustForex

EURUSD moving towards balance line

The EURUSD pair is currently trading at 1.1142. Since we got a false breakout of the channel's lower boundary, we expect the pair to inch upwards...

EURUSD: reversal expected

On Tuesday the 13th of August, trading on the EURUSD pair closed down. Volatility was high during the European and US sessions. Trading...

EURUSD: correction to the trend line

On Tuesday the 6th of August, trading on the euro closed slightly down. The stock market, along with the US dollar, was propped up by the strengthening...


EURUSD taking a breather at 1.12

On Monday the 5th of August, trading on the EURUSD pair closed up. The day's dominant theme was the ongoing trade dispute between the...

Bulls run out of steam at 90th degree

Trading on the safe haven currencies closed up last week, with everything else losing ground. The biggest loser against the US dollar was the pound...

EURUSD looking to revisit 1.1287 high

On Wednesday the 17th of July, trading on the euro closed up against the dollar, recovering about half of the losses incurred on Tuesday...


EURUSD: euro decline continues

On Monday the 15th of July, the euro declined against the dollar, with trading closing slightly lower than the Asian session's opening price...

Euro pressured by rampant Dollar

The Euro was trampled by the Dollar today as investors re-evaluated whether the Federal Reserve will cut interest rates in July...

A test of 1.1181 looks likely while at 1.1258

EUR/USD remains under pressure at the beginning of the week and is flirting with the 55-day SMA in the 1.1230 zone. In the meantime, another...

  


Share it on:   or