FX:EURUSD   Euro / U.S. Dollar
61 0 1
Current trend

The European currency has been strengthening since mid October and reached its two-month high.
Today, the US releases statistics for the number of New Home Sales, which is an important measure of housing market conditions. A growing number means the stimulation of related sectors of industry, services and the labor market that, therefore, strengthens the USD. However, this time, a decline by 0.4% is expected. Dallas Fed Manufacturing Business Index is due today as well.

Support and resistance

A strong support level is 0.0% Fibonacci, near which there is the lower MA of Bollinger Bands (1.0995). Resistance levels are 1.1056 and 1.1114 (23.6% Fibonacci). MACD histogram is in the negative zone, its volumes are falling.

Trading tips

Long positions can be opened after the breakout of the level of 1.1056 with the target at 1.1110 and stop-loss at 1.1020.
Short positions can be opened after the breakdown of the level of 1.0995 with the target at 1.0900 and stop-loss at 1.1025.
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