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EUR/USD: general analysis

FX:EURUSD   Euro Fx/U.S. Dollar
115 0 1
Current trend

Macroeconomic statistics, released in the US last week, had no influence on the EUR/USD             pair. However, it should be noted the Labor Force Participation Rate reached 63% which is the highest level since 2014.
Donald Trump, a candidate for US President, believes the US economy is far from recovery. He suggests the real unemployment rate is higher than the official 5%. Moreover, the stock market is growing while corporate profits are falling. If the situation continues to worsen, the Fed can delay its rate increase that will affect the US currency.

Support and resistance

The pair is trading in a sideways channel the lower border of which is at the level of 1.1335 and the upper is at 1.1412.

The nearest support level is at 1.1335.
The nearest resistance level is at 1.1412.

Trading tips

Long positions can be opened from the level of 1.1412 with the target at 1.1545 and stop-loss at 1.1350.
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