EUR/USD is showing a positive trend

21 December, 2018

  • Prev Open: 1.13731
  • Open: 1.14451
  • % chg. over the last day: +0.69
  • Day's range: 1.14416 – 1.14729
  • 52 wk range: 1.1214 – 1.2557

The EUR/USD is showing a positive trend. The quotes grew by 80 points and set the new monthly maximums. The USD is under pressure due to weak economic reports and political stress in the White House. Donald Trump refused to sign a bill regarding the temporary financing of the government. The Philadelphia PMI in December lowered to 9.4 instead of 15.6. You should open positions from the key levels of 1.14400-1.14800.

The Economic News Feed for 21.12.2018:

  • Primary Orders on the Durable Goods (US) - 15:30 (GMT+2:00);
  • GDP Report (US) – 15:30 (GMT+2:00);

Indicators signal the power of the buyers, the price fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone and keeps rising which points toward the growth of the EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which also gives a signal to buy EUR/USD.

  • Trading recommendations
  • Support levels: 1.14400, 1.14000, 1.13700
  • Resistance levels: 1.14800, 1.15000

If the price fixes above 1.14800 expect further growth of the EUR/USD toward 1.15000-1.15300.

Alternatively, the quotes can descend toward 1.14000.

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