EUR/USD clawed back a part of lost positions after yesterday fall

March 25, 2015

Current trend
EUR/USD clawed back a part of lost positions after yesterday's fall. The dollar was supported on Tuesday after publication of statistics for US inflation. Core consumer price index grew by 1.7% year-on-year and by 0.2% month-on-month. Both indexes were higher than expected. Today, market participants are waiting for February's data on US durable goods orders that are forecast to decrease.

Support and resistance levels
Technical indicators are pointing to the end of a correctional upward movement on the H4 chart. Bollinger bands are diverging, confirming the continuation of a downward movement. The MACD histogram is located in the positive zone, but its volumes are reducing, pointing to sellers' growing influence. 

The resistance levels are: 1.0975, 1.1030, 1.1085, and 1.1140.
Support levels: 1.0890, 1.0855, 1.0810, 1.0765.

Trading tips
The price is very likely to drop soon to a level of 1.0890, the moving average of Bollinger bands. If the level of 1.0890 is firmly broken, sellers will attempt to assault a level of 1.0855. In case of consolidation below the latter, the price may continue falling to 1.0810 and 1.0765.

Vadim Smarzh
Analyst at LiteForex Investments Limited

Publication source
LiteForex information  LiteForex reviews

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...
February 16, 2017
Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017
Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...

Exness Rating
Tickmill Rating
NPBFX Rating
OANDA Rating
FX Giants Rating
Larson&Holz IT Ltd Rating

IQ Option Rating
Binary.com Rating
First Binary Option Service Rating
GTOptions Rating
OptionBit Rating
Migesco Rating