Current trend
The EUR / USD pair has been growing for three consecutive weeks because of the weak dollar. The increase in the volume of industrial production in the euro area, as well as a higher Sentix confidence index, had a positive impact on the euro. However, the main catalyst for the pair's growth remains the USD weakness - the market was disappointed with Donald Trump's remarks. The new president has yet to do anything that could boost confidence in the US currency. For the first time since the election investors are starting to doubt that this victory is favorable to the business. Doubt and uncertainty put pressure on the dollar, which is reflected in the growth of the EUR / USD pair.
Support and resistance
In the daily chart, the pair is operating near the upper limit of the 'Bollinger Bands' indicator. Histogram of MACD is in the negative zone, but it will cross the line of zero from below, forming a signal of purchase.
Support levels: 1.0550, 1.0480, 1.0410, 1.0350.
Resistance levels: 1.0650.
Trading tips
Short positions can be opened at the 1.0550 level, with the target of 1.0480 and a stop loss at the 1.0580 level.
Long positions should be placed at the 1.0690 level, with the target of 1.0800 and a stop loss at the 1.0650 level.
Period of execution: 2-5 days.
Sell Stop recommendation
Entry Point 1.0550
Take Profit 1.0480
Stop 1.0580 loss
Key levels 1.0350, 1.0410, 1.0480, 1.0550, 1.0650
Alternative scenario
Buy Stop recommendation
Entry Point 1.0690
Take profit 1,0800
Stop the 1.0650 loss
Key levels 1.0350, 1.0410, 1.0480, 1.0550, 1.0650
The EUR / USD pair has been growing for three consecutive weeks because of the weak dollar. The increase in the volume of industrial production in the euro area, as well as a higher Sentix confidence index, had a positive impact on the euro. However, the main catalyst for the pair's growth remains the USD weakness - the market was disappointed with Donald Trump's remarks. The new president has yet to do anything that could boost confidence in the US currency. For the first time since the election investors are starting to doubt that this victory is favorable to the business. Doubt and uncertainty put pressure on the dollar, which is reflected in the growth of the EUR / USD pair.
Support and resistance
In the daily chart, the pair is operating near the upper limit of the 'Bollinger Bands' indicator. Histogram of MACD is in the negative zone, but it will cross the line of zero from below, forming a signal of purchase.
Support levels: 1.0550, 1.0480, 1.0410, 1.0350.
Resistance levels: 1.0650.
Trading tips
Short positions can be opened at the 1.0550 level, with the target of 1.0480 and a stop loss at the 1.0580 level.
Long positions should be placed at the 1.0690 level, with the target of 1.0800 and a stop loss at the 1.0650 level.
Period of execution: 2-5 days.
Sell Stop recommendation
Entry Point 1.0550
Take Profit 1.0480
Stop 1.0580 loss
Key levels 1.0350, 1.0410, 1.0480, 1.0550, 1.0650
Alternative scenario
Buy Stop recommendation
Entry Point 1.0690
Take profit 1,0800
Stop the 1.0650 loss
Key levels 1.0350, 1.0410, 1.0480, 1.0550, 1.0650
