EUR/USD: general analysis
28 March 2018, 13:40
| Scenario | |
|---|---|
| Timeframe | Intraday |
| Recommendation | SELL STOP |
| Entry Point | 1.2365 |
| Take Profit | 1.2325 |
| Stop Loss | 1.2405 |
| Key Levels | 1.2325, 1.2370, 1.2420, 1.2450 |
Current trend
EUR is insignificantly going down against USD and now the pair is trading at the level of 1.2390.
The decrease in demand on European currency was due to the commentaries of the member of the ECB Governing Council Erkki Liikanen, who in his interview stated that the political risks could become a great obstacle for monetary policy tightening, and the monetary stimulus program could be prolonged. Traders consider such statements as negative for EUR, which makes them open short positions. USD is supported by the decrease of tightening between USA and China in their trading war, as there is a possibility that the countries will negotiate successfully and find a compromise solution: economic wars will bring no profit either side in the long term. One of the Asian countries has succeeded in the negotiations: South Korea will restrict steel export, and US won’t imply 25% metal fees.
Today the investors are focused on US GDP Annualized release and Personal Consumption Expenditures publication.
Support and resistance
Stochastic is at the level of 48 points and does not give a signal to open positions.
Resistance levels: 1.2420, 1.2450.
Support levels: 1.2370, 1.2325.
Trading tips
Short positions can be opened below the level of 1.2371 with the target at 1.2325 and stop loss 1.2405.
EUR is insignificantly going down against USD and now the pair is trading at the level of 1.2390.
The decrease in demand on European currency was due to the commentaries of the member of the ECB Governing Council Erkki Liikanen, who in his interview stated that the political risks could become a great obstacle for monetary policy tightening, and the monetary stimulus program could be prolonged. Traders consider such statements as negative for EUR, which makes them open short positions. USD is supported by the decrease of tightening between USA and China in their trading war, as there is a possibility that the countries will negotiate successfully and find a compromise solution: economic wars will bring no profit either side in the long term. One of the Asian countries has succeeded in the negotiations: South Korea will restrict steel export, and US won’t imply 25% metal fees.
Today the investors are focused on US GDP Annualized release and Personal Consumption Expenditures publication.
Support and resistance
Stochastic is at the level of 48 points and does not give a signal to open positions.
Resistance levels: 1.2420, 1.2450.
Support levels: 1.2370, 1.2325.
Trading tips
Short positions can be opened below the level of 1.2371 with the target at 1.2325 and stop loss 1.2405.
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