Current trend
The EUR/USD pair reacted to the negative US inflation and Retail Sales by the active growth. The pair could reach the maximum around the level of 1.1295.
The negative inflation data make the investors to worry, as the USA FRS could refuse from its plans of the further increase of the interest rate. However after the Janet Yellen speech on the FRS FOMC Press-conference the EUR/USD began to fall. The Head of the FRS accented not on the lowering of the inflation, but on the positive US economy trends and confirmed the FRS intention to increase the interest rate for the third time in 2017. The investors reacted in buying the USD actively, which lead to the rapid fall of the EUR/USD to the area of 1.1200. After the rapid dynamics on Wednesday the EUR/USD reversed into the sideway phase.
Support and resistance
Technical indicators don’t give a clear signal. Bollinger Bands are pointed sideways, reflecting the sideway trend of the market. MACD histogram is decreasing in the positive zone, reflecting the growing influence of the sellers.
Support levels: 1.1191, 1.1165, 1.1136, 1.1110.
Resistance levels: 1.1224, 1.1262, 1.1295.
Trading scenario
Sell the pair open below the level of 1.1191 with the target at around 1.1165-1.1110 and stop loss at 1.1205.
Buy the pair above the level of 1.1224 with the target at around 1.1262-1.1295 and stop loss at 1.1200.
The EUR/USD pair reacted to the negative US inflation and Retail Sales by the active growth. The pair could reach the maximum around the level of 1.1295.
The negative inflation data make the investors to worry, as the USA FRS could refuse from its plans of the further increase of the interest rate. However after the Janet Yellen speech on the FRS FOMC Press-conference the EUR/USD began to fall. The Head of the FRS accented not on the lowering of the inflation, but on the positive US economy trends and confirmed the FRS intention to increase the interest rate for the third time in 2017. The investors reacted in buying the USD actively, which lead to the rapid fall of the EUR/USD to the area of 1.1200. After the rapid dynamics on Wednesday the EUR/USD reversed into the sideway phase.
Support and resistance
Technical indicators don’t give a clear signal. Bollinger Bands are pointed sideways, reflecting the sideway trend of the market. MACD histogram is decreasing in the positive zone, reflecting the growing influence of the sellers.
Support levels: 1.1191, 1.1165, 1.1136, 1.1110.
Resistance levels: 1.1224, 1.1262, 1.1295.
Trading scenario
Sell the pair open below the level of 1.1191 with the target at around 1.1165-1.1110 and stop loss at 1.1205.
Buy the pair above the level of 1.1224 with the target at around 1.1262-1.1295 and stop loss at 1.1200.