Quantitative easing program
Last week all traders expected specifics of terms of interest rate increase of Fed U.S., however, Janet Yellen didn't mention exact dates in her speech. It caused a panic in the currency market as expectations of a great many of people weren't satisfied, as a result the raised volatility has been lasting till current week, as a consequence the currency pair EUR/USD passed 200 pips. However, you shouldn't forget that the panic is a temporary phenomenon and everything will calm down soon and will resume its normal course, and here everyone will remember "the quantitative easing program ", and that the destiny of Greece is still not decided. Therefore further decrease in couple of currencies is expected.
Main movement of currency pair
EUR/USD pair switched into ascending movement, Tenkan and Kijun lines are below the price curve, the price moves above the descending cloud, the descending movement of currency pair from the level of resistance 1,0975 is predicted. Traders should take “sell” positions below the level of resistance 1,0975, to fix profit at the levels of support 1,0915, 1,0860, 1,0820.
Alternative movement of currency pair
If EUR/USD pair manages to break through and get fixed above the level of resistance 1,0975, continuation of the ascending movement to the following levels of resistance 1,1000, 1,1040 will be possible.
Level of resistance: 1,0975; 1,1000; 1,1040.
Level of support: 1,0915; 1,0860; 1,0820.
Last week all traders expected specifics of terms of interest rate increase of Fed U.S., however, Janet Yellen didn't mention exact dates in her speech. It caused a panic in the currency market as expectations of a great many of people weren't satisfied, as a result the raised volatility has been lasting till current week, as a consequence the currency pair EUR/USD passed 200 pips. However, you shouldn't forget that the panic is a temporary phenomenon and everything will calm down soon and will resume its normal course, and here everyone will remember "the quantitative easing program ", and that the destiny of Greece is still not decided. Therefore further decrease in couple of currencies is expected.
Main movement of currency pair
EUR/USD pair switched into ascending movement, Tenkan and Kijun lines are below the price curve, the price moves above the descending cloud, the descending movement of currency pair from the level of resistance 1,0975 is predicted. Traders should take “sell” positions below the level of resistance 1,0975, to fix profit at the levels of support 1,0915, 1,0860, 1,0820.
Alternative movement of currency pair
If EUR/USD pair manages to break through and get fixed above the level of resistance 1,0975, continuation of the ascending movement to the following levels of resistance 1,1000, 1,1040 will be possible.
Level of resistance: 1,0975; 1,1000; 1,1040.
Level of support: 1,0915; 1,0860; 1,0820.
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