EUR/USD traded in the range of 1.1449-1.1228

May 19, 2015

Current trend

On Monday the pair EUR/USD traded in the range of 1.1449-1.1228, losing over 100 points compared with the highs of the last week. At the moment Euro continues to drop in price against the American currency. The price is at the level of 1.1305.

It is expected that today, market volatility will be moderate. Among macro-economic statistics, which can affect movement in the pair will be ZEW sentiment index in the business sector of Germany. According to preliminary forecast the index will decline compared the previous value, and given that the German economy is the leading in the EU, low index will not help the rise in Euro.

Support and resistance

On the four-hour chart Moving Average lines with the periods 20 and 50 are above the current price level, which confirms existing downtrend. MACD histogram is in the positive zone; its volumes are decreasing, which is also a confirmation of the downtrend.

Support levels: 1.1217 (moving average with the period 100) and 1.1129 (last week’s lows). The nearest support level is the moving average line with the period 50 (1.1322). Strong resistance is the highs of February at the level of 1.1467.

Trading tips

It is recommended to open short positions from the level of 1.1300 with the exit order at 1.1220–1.1200. As an alternative scenario it is possible to open buy positions below the level of 1.1322 with the target of 1.1420-1.1460.

Publication source
LiteForex information  LiteForex reviews

February 20, 2017
U.S. dollar attempts to post a recovery amid a slow trading day
The U.S. dollar is attempting to post some gains to build up from Friday's reversal. Price action has formed an inside bar among EURUSD and USDJPY which could indicate a potential breakout trading that could establish the near-term direction of prices...
February 20, 2017
FOMC & RBA February meeting minutes, key data in focus
In the US, the Fed will release the minutes of its February meeting. Markets will probably focus on any signals regarding the timing of the next rate hike...
February 20, 2017
EURUSD is having difficulties to go any higher
The dollar fell on Friday amid a light market due to US President's Day. Investors are monitoring the US political situation and waiting for a decision on financial aid to Greece...

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

24option Rating
OptionBit Rating
EZTrader Rating
Binary.com Rating
Beeoptions Rating
Anyoption Rating