The indeterminacy
Yesterday against data of CPI on Europe the pair EUR/USD reached a minimum 1,1395 that was predicted as this indicator remained without changes at the level of -0.6%. Further day was sated with speeches of heads, at first president of Federal Reserve System Janet Yellen, then head of European Central Bank Mario Draghi. The pair is smoothly passing to the descending trend, perhaps the level of support 1,1200 will be reached already today.
Main movement of currency pair
EUR/USD pair passed through the descending trend line, Tenkan and Kijun lines are bound below the price curve, the price is in the descending cloud, continuation of the descending movement is predicted. It is desirable to traders to take sell positions below the level of resistance 1,1356, to fix profit at the levels of support 1,1320, 1,1290, 1,1250.
Alternative movement of currency pair
If pair succeeds to break through and get fixed above the level of resistance 1,1356 , continuation of the ascending movement to the following levels of resistance 1,1390, 1,1420 will be possible.
Level of resistance: 1,1356; 1,1390; 1,1420.
Level of support: 1,1320; 1,1290; 1,1250.
Yesterday against data of CPI on Europe the pair EUR/USD reached a minimum 1,1395 that was predicted as this indicator remained without changes at the level of -0.6%. Further day was sated with speeches of heads, at first president of Federal Reserve System Janet Yellen, then head of European Central Bank Mario Draghi. The pair is smoothly passing to the descending trend, perhaps the level of support 1,1200 will be reached already today.
Main movement of currency pair
EUR/USD pair passed through the descending trend line, Tenkan and Kijun lines are bound below the price curve, the price is in the descending cloud, continuation of the descending movement is predicted. It is desirable to traders to take sell positions below the level of resistance 1,1356, to fix profit at the levels of support 1,1320, 1,1290, 1,1250.
Alternative movement of currency pair
If pair succeeds to break through and get fixed above the level of resistance 1,1356 , continuation of the ascending movement to the following levels of resistance 1,1390, 1,1420 will be possible.
Level of resistance: 1,1356; 1,1390; 1,1420.
Level of support: 1,1320; 1,1290; 1,1250.
Recommended Content
Editors’ Picks
EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.