Current trend
During yesterday's trading EUR/USD demonstrated growth from the level of 1.1120 to 1.1170. Euro seems to have found support around 1.1100.
The price of the European currency was supported by the results of ECB meeting. The regulator pointed out that the index of political tension remains stable, and negative consequences of Brexit appeared to be not so serious. Statistical data demonstrates stable growth of Eurozone economy and indicate the restoration of the international market environment. In the absence of other important news "bulls" used this information to regain a number of previously lost positions.
Today the market is expecting statistics on income and unemployment in the USA. In the near future the pair EUR/USD is likely to continue stable trading within the limits of the side channel 1.1120-1.1265.
Support and resistance
In the 4-hour chart the pair is consolidating in the upward channel. It is facing an important resistance level of 1.1170-1.1200. MACD indicator is above the signal line, its volumes are falling and approaching the zero mark. Stochastic is in the overbought zone, and its lines are directed downwards and are getting ready to cross. Indicators give uncertain signals.
Support levels: 1.1120, 1.1020, 1.0960.
Resistance levels: 1.1170, 1.1200, 1.1265, 1.1360.
Trading tips
The pair may be bought after consolidation over the level of 1.1200 with targets at 1.1265 and stop-loss at 1.1180.
Short positions will become relevant below the level of 1.1120 with targets at 1.1020 and 1.0960 and stop-loss at 1.1150.
The period of implementation is 1-2 days.
During yesterday's trading EUR/USD demonstrated growth from the level of 1.1120 to 1.1170. Euro seems to have found support around 1.1100.
The price of the European currency was supported by the results of ECB meeting. The regulator pointed out that the index of political tension remains stable, and negative consequences of Brexit appeared to be not so serious. Statistical data demonstrates stable growth of Eurozone economy and indicate the restoration of the international market environment. In the absence of other important news "bulls" used this information to regain a number of previously lost positions.
Today the market is expecting statistics on income and unemployment in the USA. In the near future the pair EUR/USD is likely to continue stable trading within the limits of the side channel 1.1120-1.1265.
Support and resistance
In the 4-hour chart the pair is consolidating in the upward channel. It is facing an important resistance level of 1.1170-1.1200. MACD indicator is above the signal line, its volumes are falling and approaching the zero mark. Stochastic is in the overbought zone, and its lines are directed downwards and are getting ready to cross. Indicators give uncertain signals.
Support levels: 1.1120, 1.1020, 1.0960.
Resistance levels: 1.1170, 1.1200, 1.1265, 1.1360.
Trading tips
The pair may be bought after consolidation over the level of 1.1200 with targets at 1.1265 and stop-loss at 1.1180.
Short positions will become relevant below the level of 1.1120 with targets at 1.1020 and 1.0960 and stop-loss at 1.1150.
The period of implementation is 1-2 days.