FX:EURUSD   Euro / U.S. Dollar
46 0 2
Current trend

On Wednesday, the EUR/USD             pair significantly strengthened amid the decision by the American regulator to keep its interest rate unchanged. At the same time, in the Monetary Policy Statement it was noted that the possibility of policy tightening in the nearest future is very high.

Today, pair’s dynamics can be affected by the publication of data on the Chicago Fed National Activity Index and on Jobless Claims in the US. In addition, high volatility on the market can be caused by ECB President Draghi speech regarding economic conditions in the eurozone.

Support and resistance

On the daily chart , the instrument broke out a strong resistance level at 1.1120. Bollinger Bands is directed down while the price range is narrowing. MACD histogram is near the zero line. Stochastic has left the oversold zone.

The indicators recommend waiting for clearer trading signals.

Support levels: 1.1217, 1.1199, 1.1182, 1.1148, 1.1100, 1.1070.
Resistance levels: 1.1250, 1.1271, 1.1280, 1.1306, 1.1327.

Trading tips

Long positions can be opened from current prices with the target at 1.1280 and stop-loss at 1.1195. Validity – 1-2 days.
Short positions can be opened from the level of 1.1195 with the target at 1.1150 and stop-loss at 1.1220. Validity – 1-2 days.
More analytic from LiteForex:
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