LiteForex_Official

EUR/USD: general analysis

FX:EURUSD   Euro/U.S. Dollar
59 0 3
Current trend

On Tuesday, the EUR/USD             pair was declining until Wholesale Inventories statistics were released in the US. The indicator came in above the forecast of 0.0%, having grown by 0.5%, that suggests an economic slowdown and negatively affects the US dollar             . After the publication, the pair started strengthening and, at present, is trading in the area of 1.0760.

Today, attention needs to be paid to the ECB President Mario Draghi's Speech.

Support and resistance

On the hourly chart, the price is trading above MA10 and MA20 that have crossed each other and are directed up. MACD histogram is leaving the negative zone, its volumes are growing. Today, the price is likely to remain within the range of 1.0665-1.0770 that is confirmed by the location of Bollinger Bands MAs.
In general, the indicators suggest positive dynamics, but the pair will be under pressure until the ECB President Mario Draghi's Speech.

Support levels: 1.0700, 1.0665.
Resistance levels: 1.0770, 1.0975.

Trading tips

Long positions can be opened after the consolidation above the level of 1.0770 with the target at 1.0830 and stop-loss at 1.0750.
Short positions can be opened after the consolidation below the level of 1.0665 with the target at 1.0600 and stop-loss at 1.0720.
More analytic from LiteForex:
English https://www.liteforex.com/trading/forex-analysis/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out