EUR/USD: analysis and forecast for April 02, 2014

April 2, 2014

Current trend

This Monday the pair has broken through key resistance levels and consolidated above them. However, yesterday's market wasn't volatile, and EUR/USD was trading around support level of 1.3790. Euro has been supported by the positive stats from Germany, where unemployment rate is decresing. Fundamental data of Eurozone shows that the gap between differebt countries isn't so big anymore. ECB is trying to boost economic recovery, although investors are quite sceptical about the results of monetary policy meeting.

Today we anticipate the release of PPI of Eurozone, forecasts are negative. Do not forget about major release on Friday – Non-Farm Payrolls in USA.

Support and resistance

The closest support level is 1.3800, breakdown of this level is the main goal of Bears. Next support levels will be at 1.3790, 13770, 1.3750, 1.3735. Resistance levels are 1.3815, 1.3830, 1.3850, 1.3875.

Trading tips

Long trades can be opened above 1.3830 with target at 1.3875. Sell orders should be placed below 1.3790. Buy limit order can also be placed at 1.3875.

Ilya Laschenko

Analyst of LiteForex Group of Companies

Publication source
LiteForex information  LiteForex reviews

March 1, 2017
Investors sail to safe harbours
The Dollar index flattened as Trump gave a speech ahead of the Congress meeting. The president left the market without any clues on the taxation issue saying it is postponed till the cancellation of Obamacare...
February 28, 2017
Gold may benefit from Trump
The gold price is powering ahead today, racking up its third consecutive day of gains as traders position themselves for a speech tonight by US President Donald Trump...
February 17, 2017
Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...

Exness Rating
Cms Trader Rating
FOREX.com Rating
Tickmill Rating
Grand Capital Rating
Larson&Holz IT Ltd Rating

GTOptions Rating
Anyoption Rating
IQ Option Rating
Dragon Options Rating
Porter Finance Rating
Beeoptions Rating