EUR/USD: review and forecast on 29.05.2015

May 29, 2015

Current trend

Following the prolonged decline, the Euro is slowly regaining positions against the USD. Today, the price is at the level of 1.0950. Prior to the release of the annual data on the US GDP, European currency is preferable for investments as experts predict the decline in the index from o.2% to -0.8%.

Now, let’s look at the technical indicators. Following the 10-day decline, the pair EUR/USD had reached the bottom limit of Bollinger bands; after that the pair rebounded; now it is forming a new ascending trend.

Support and resistance

The nearest support level is 1.0820 (lower moving average of Bollinger bands), resistance level is 1.1150 (middle MA of the indicator Bollinger bands).

Trading tips

Buy positions are advisable after breakdown of the level of 1.0990. When the price goes above 1.1150, the transactions shall be shifted into breakeven mode.  Long-term target is at the level of 1.1350. As an alternative scenario it is possible to open short positions below the level of 1.0910 and exit points of 1.0820.    

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...

FXCM Rating
Cms Trader Rating
Fort Financial Services Rating
XM Rating
OctaFX Rating
 FXTM Rating

Porter Finance Rating
IQ Option Rating
OptionBit Rating
Beeoptions Rating
EZTrader Rating
GTOptions Rating