EUR/USD had a variety of trends

20 December, 2018

  • Prev Open: 1.13623
  • Open: 1.13731
  • % chg. over the last day: +0.23
  • Day's range: 1.14107 – 1.14342
  • 52 wk range: 1.1214 – 1.2557

The EUR/USD had a variety of trends yesterday, before the Federal Reserve meeting. As expected, the regulator increased the key interest range by 25 basis points up to 2.50%. However, the investors were disappointed to hear the key interest rate will be increased only two times in 2019 instead of three times. You should open positions from the key support and resistance levels of 1.14000 and 1.4400.

The Economic News Feed for 20.12.2018:

  • PMI index by the Philadelphia Federal Reserve (US) – 15:30 (GMT+2:00).
  • Indicators point toward the power of the buyers: the price fixed above 50 MA and 200 MA.
  • The MACD histogram is in the positive zone, the price fixed above 50 MA and 200 MA.
  • The Stochastic Oscillator is in the overbought zone, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations

  • Support levels: 1.14000, 1.13600, 1.13250
  • Resistance levels: 1.14400, 1.14750
  • If the price fixes above 1.14400, expect the EUR/USD to grow toward 1.14750-1.15000.
  • Alternatively, the quotes can descend toward 1.13600-1.13250.

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