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.

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