EUR/USD

Yesterday, EUR rose against USD, recovering slightly after the mixed trade dynamics on Tuesday and Wednesday.

Current trend. Yesterday, EUR rose against USD, recovering slightly after the mixed trade dynamics on Tuesday and Wednesday.

Investors are focused on the situation around the arrest of Meng Wanzhou, the CFO of Huawei, accused of collaborating with Iran bypassing US sanctions. If she is sent to the United States, the 90-day truce may be broken, and further negotiations will be questionable. The case is complicated by the fact that Huawei is the leader in developing technologies that make the PRC less dependent on American and European suppliers, and the Chinese authorities will probably not leave the arrest of the company's leading manager without consequences.

On Friday, data on the Eurozone GDP in Q3 2018 will be published. Indicators are expected to remain the same. QoQ, GDP growth will be 0.2%, and YoY – 1.7%.

Support and resistance

On the daily chart, Bollinger bands are moving horizontally. The price range narrows from above, reflecting the flat nature of trading last week. The MACD indicator is growing, keeping a weak buy signal (the histogram is above the signal line). After a brief horizontal movement, Stochastic reverses upwards up again, responding to yesterday's strengthening of “bullish” moods.

It is better to keep current long positions in the short and/or super short term. It is better to wait for the appearance of additional trading signals before opening new positions.

Resistance levels: 1.1400, 1.1432, 1.1460, 1.1500.

Support levels: 1.1357, 1.1325, 1.1300, 1.1266.

d2cffcb3c6b79ba00d9030cf5d46b91c.png

Trading tips

Long positions can be opened after the breakout of 1.1400 with the targets at 1.1460–1.1470. Stop loss is 1.1370.

Short positions can be opened after a rebound from 1.1400 and a breakdown of 1.1370 with the targets at 1.1325–1.1300. Stop loss is 1.1400.

Implementation period: 2–3 days.

 

Scenario

Timeframe Intraday
Recommendation BUY STOP
Entry Point 1.1405
Take Profit 1.1460, 1.1470
Stop Loss 1.1370
Key Levels 1.1266, 1.1300, 1.1325, 1.1357, 1.1400, 1.1432, 1.1460, 1.1500

 

Alternative scenario

 

Recommendation SELL STOP
Entry Point 1.1365
Take Profit 1.1325, 1.1300
Stop Loss 1.1400
Key Levels 1.1266, 1.1300, 1.1325, 1.1357, 1.1400, 1.1432, 1.1460, 1.1500

Add comment

Security code
Refresh

Subscription

Forex Forecast

© 2014-2018 ForexCrypto.top, Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, or any kind of trading you should carefully consider your investment objectives, level of experience, and risk appetite. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. Past performance is no indication or guarantee of future performance. ForexCrypto.top is an affiliate partner with various brokers and may be compensated for referred Traders. All reviews remain unbiased and objective and immediate action will be taken against any broker which is found to be in breach of regulation. These partnerships have proven to be great aids in the furthering communication between brokers and our visitors. Only the NFA regulated brokers featured on this site are available to U.S. customers. Forex

Search