Current trend
EUR weakened against USD, despite declining existing home sales in the US.
Yesterday, the investors were focused in G20 finance ministers meeting in Buenos Aires this weekend. The Dutch Finance Minister Wopke Hoekstra voiced the common position of the EU leaders that new US trade agreements can be concluded only with the European Union as a whole, but not with its separate countries. This means supporting a common position by all EU members before the visit of the head of the European Commission Jean-Claude Juncker to the United States to negotiate on the abolition or reduction of import cars taxes
Today, traders should pay attention to the publication of PMI data in the US (15:45 GMT+2). The market is expected to be moderately volatile.
Support and resistance
In H4 chart the instrument corrected to the center line of Bollinger Bands, the price range is expanded. MACD histogram is in the positive area, the signal line is crossing the zero level and the histogram body from below, signaling the opening of long positions.
Support levels: 1.1655, 1.1642, 1.1619, 1.1600, 1.1570.
Resistance levels: 1.1681, 1.1700, 1.1720, 1.1750, 1.1760.
Trading tips
Short positions may be opened from the level of 1.1650 with target at 1.1600 and stop loss at 1.1680.
Long positions may be opened from the level of 1.1700 with target at 1.1760 and stop loss at 1.1670.
Implementation period: 1-3 days.
Trade
Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 1.1650
Take Profit 1.1600
Stop Loss 1.1680
Key Levels 1.1570, 1.1600, 1.1619, 1.1642, 1.1655, 1.1681, 1.1700, 1.1720, 1.1750, 1.1760
Alternative scenario
Recommendation BUY STOP
Entry Point 1.1700
Take Profit 1.1760
Stop Loss 1.1670
Key Levels 1.1570, 1.1600, 1.1619, 1.1642, 1.1655, 1.1681, 1.1700, 1.1720, 1.1750, 1.1760
EUR weakened against USD, despite declining existing home sales in the US.
Yesterday, the investors were focused in G20 finance ministers meeting in Buenos Aires this weekend. The Dutch Finance Minister Wopke Hoekstra voiced the common position of the EU leaders that new US trade agreements can be concluded only with the European Union as a whole, but not with its separate countries. This means supporting a common position by all EU members before the visit of the head of the European Commission Jean-Claude Juncker to the United States to negotiate on the abolition or reduction of import cars taxes
Today, traders should pay attention to the publication of PMI data in the US (15:45 GMT+2). The market is expected to be moderately volatile.
Support and resistance
In H4 chart the instrument corrected to the center line of Bollinger Bands, the price range is expanded. MACD histogram is in the positive area, the signal line is crossing the zero level and the histogram body from below, signaling the opening of long positions.
Support levels: 1.1655, 1.1642, 1.1619, 1.1600, 1.1570.
Resistance levels: 1.1681, 1.1700, 1.1720, 1.1750, 1.1760.
Trading tips
Short positions may be opened from the level of 1.1650 with target at 1.1600 and stop loss at 1.1680.
Long positions may be opened from the level of 1.1700 with target at 1.1760 and stop loss at 1.1670.
Implementation period: 1-3 days.
Trade
Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 1.1650
Take Profit 1.1600
Stop Loss 1.1680
Key Levels 1.1570, 1.1600, 1.1619, 1.1642, 1.1655, 1.1681, 1.1700, 1.1720, 1.1750, 1.1760
Alternative scenario
Recommendation BUY STOP
Entry Point 1.1700
Take Profit 1.1760
Stop Loss 1.1670
Key Levels 1.1570, 1.1600, 1.1619, 1.1642, 1.1655, 1.1681, 1.1700, 1.1720, 1.1750, 1.1760