LiteForex_Official

EUR/USD: general analysis

FX:EURUSD   Euro / U.S. Dollar
72 0 4
Current trend

Yesterday the US Dollar             strengthened against the European currency. The Euro             was pressured by the publication of data on economic sentiment in the eurozone. The ZEW survey showed an increase in economic sentiment to 5.4 points that was, however, substantially below market consensus of 6.7 points.
Today attention needs to be paid to data on the Import and Export Prices Indexes, due in the US at 2:30 pm (GMT+2), which are followed as indicators of inflation in the country.

Support and resistance

Bollinger Bands on the 4-hour chart is directed down while the price range is narrowing. MACD histogram remains in the region of the zero line and is keeping a sell signal. Stochastic is hovering not far from the border of the oversold zone.

The indicators recommend short positions.

Support levels: 1.1221, 1.1215, 1.1208, 1.1200, 1.1190, 1.1180.
Resistance levels: 1.1231, 1.1242, 1.1250, 1.1255, 1.1262, 1.1271, 1.1278.

Trading tips

Short positions can be opened from the current level with targets at 1.1205, 1.1195 and stop-loss at 1.1245. Validity – 1-2 days.
Long positions can be opened from the level of 1.1240 with the target at 1.1280 and stop-loss at 1.1225. Validity – 1-3 days.
More analytic from LiteForex:
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