EUR/USD has a bullish sentiment

2 January, 2019

  • Prev Open: 1.14334
  • Open: 1.14572
  • % chg. over the last day: +0.28
  • Day's range: 1.14427 – 1.14967
  • 52 wk range: 1.1214 – 1.2557

EUR/USD has a bullish sentiment. The EUR/USD quotes are consolidating around 1.14850-1.15000. 1.14600 acts as mirror support. EUR has prospects for further growth. Investors are expecting an array of reports regarding the EU. You should open positions from the key levels.

At 10:55 (GMT+2:00) Germany will publish the Industrial PMI.

The price fixed above 50 MA and 200 MA which points toward the power of the buyers.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to purchase EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which also points toward the growth of EUR/USD.

Trading recommendations

  • Support levels: 1.14600, 1.14250, 1.14000
  • Resistance levels: 1.14850, 1.15000, 1.15400

If the price fixes above 1.14850, expect further growth of the EUR/USD quotes. The movement will tend toward 1.15250-1.15400.

Alternatively the currency pair can descend toward 1.14300-1.14000.

Source   Presented by JustForex
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