LiteForex_Official

EUR/USD: under double "verbal" pressure

FX:EURUSD   Euro Fx/U.S. Dollar
103 2 0
Current trend

At December 3 meeting, the ECB will revise its monetary policy. The EU economy and inflation are under pressure from concerns over global economic slowdown. On the other hand, Fed officials and its Chair Janet Yellen have repeatedly stated the possibility of a rate hike at the forthcoming meeting, due in December. Thus, the EUR/USD             pair is under double "verbal" pressure.
Today, ahead of Non-farm Payrolls for October, due in the US, the volatility remains low. In case of favorable statistics, the US dollar             will strengthen against its counterparts.

Support and resistance

OsMA and Stochastic indicators on the daily, weekly and monthly charts recommend short positions. The pair is trading near the support level of 1.0820 (July, May lows), the breakdown of which may lead to a decline to 1.0500 (year lows). As long as the price remains below the levels of 1.1210 (EMA144 on the daily chart ), 1.1285 (23.6% Fibonacci), 1.1325 (EMA200 on the daily chart ), short positions are more preferable.
If the NFPR statistics come in below the forecast today, an upward correction to the levels of 1.1050, 1.1130 (EMA50 on the daily chart ) may follow.

Support levels: 1.0820, 1.0800, 1.0735, 1.0700.
Resistance levels: 1.1050, 1.1130, 1.1210, 1.1285, 1.1325.

Trading tips

Short positions can be opened form the level of 1.0850 with targets at 1.0820, 1.0800, 1.0735, 1.0700 and stop-loss at 1.0910.
Long positions can be opened form the level of 1.0920 with targets at 1.1000, 1.1050, 1.1130 and stop-loss at 1.0880.
AJEXTRADING
a year ago
I am not shorting because , I think . Euro found it bottom level area and can see some support at 1.0860 level . I am Long Long from 1.0838 with my sl at 1.0748 and my TP at 1.1390
Reply
AJEXTRADING AJEXTRADING
a year ago
I am not a day trader so this may not relevant for them ,I am always with long term strategies
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out