EUR/USD: USD is growing on 11.06.2015

June 11, 2015

Current trend

On Wednesday, the pair EUR/USD was supported by German ten-year bonds, as their yield grew by 3.0 basis points to 0.984%. The strengthening of the Euro is also supported by the news that Greece and Germany are close to reaching an agreement and that the ECB has increased the volume of liquidity for Greek banks from 80.7 tî 83.0 billion euro. The pair is also under the pressure from market expectations of the interest rate increase in the US and monetary policy easing in the Eurozone.

Today’s news includes the data on the US retail sales for May due at 15:30 (GMT+3). Forecasts predict that the figure should show an increase of 1.1% against 0% for April. If the forecast proves right or the actual figure comes out even better, the USD will grow against all major currencies. Later today, between 16:30 and 20:00 (GMT+3), more US news releases are coming up. As high volatility is expected for the pair, be careful when making trading decisions. 

Support and resistance

On the daily chart, the pair is moving within the upward correction channel (green color) and is now at 23.6% Fibonacci level (1.1290). From the top, its movement is restricted by the resistance levels of 1.1440 (ÅÌÀ144), 1.1680 (ÅÌÀ200), 1.1785 (Fibonacci 38.2%). On the daily chart, Stochastic and OsMA are in the buy zone but about to reverse and move to the sell zone. On the four-hour chart Stochastic and OsMA give sell signals.

Support levels: 1.1200, 1.1125, 1.1090, 1.0980 and 1.0860.

Resistance levels: 1.1350, 1.1440, 1.1680 and 1.1785.

Trading tips

It is recommended to open short positions at the current price and from the levels of 1.1350, 1.1380 and 1.1440 with targets at 1.1200, 1.1125, 1.1100, 1.1090 and 1.1000. After breakout of the 1.1500 level, it would make sense to open long positions with targets at 1.1680 and 1.1785.

Publication source
LiteForex information  LiteForex reviews

October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016
Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016
EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...

FBS Rating Rating
HYCM Rating
Grand Capital Rating
Fort Financial Services Rating
OANDA Rating

Porter Finance Rating
IQ Option Rating
Binary Brokerz Rating
EZTrader Rating
OptionFair Rating
Anyoption Rating