EUR/USD: general analysis for December 30, 2013

December 30, 2013

Current trend

At the closing session last week the USD significantly dropped against Euro; the pair has broken down October highs of 1.3834, however failed to consolidate above this level and rolled back to the lower boundary of the ascending channel. Today the USD may slightly strengthen amid growing number of pending home sales. The pair continues to trade in the ascending channel and has chances to rise to the level of 1.3834, where there is the upper line of “Bollinger bands”. The signal line and MACD is preparing to enter the zone of histogram, indicating that “bullish” sentiment in the market will persist.

Support and resistance

Support for the pair is provided at the level of 1.3698; lower limit of the channel and the middle line of “Bollinger bands” are also located near this level. The nearest resistance level is at the local highs of 1.3809.

Trading tips

It is recommended to open long positions with the target of 1.3834 and stop-loss at 1.3698. 

Kamil Avad

Analyst of LiteForex Group of Companies

Publication source
LiteForex information  LiteForex reviews

September 23, 2016
Gold rises to critical level on lower-for-longer policy signals
The price of gold extended its rebound modestly on Thursday after the US Federal Reserve provided some key signals on Wednesday that, despite a considerable probability of one Fed rate hike by the end of this year...
September 22, 2016
Moving on from the Fed
The reaction seen in currency markets yesterday to respective central bank policy decisions was instructive of the change in dynamics that we’re seeing. The BoJ enacted a number of changes to its policy regime...
September 21, 2016
Bank of Japan runs out of road
The Bank of Japan delivered a whole heap of nothing at its policy meeting today, although some adjustments were made to its policy framework. If you take the time to read through these measures, then the impression is of a central bank that has largely lost the monetary plot...

XM Rating
Fort Financial Services Rating
HYCM Rating
OANDA Rating
OctaFX Rating Rating

Beeoptions Rating
Binary Brokerz Rating
Anyoption Rating
OptionFair Rating
IQ Option Rating
24option Rating