Analytical overview of the main currency pairs on 2017.05.26

The EUR/USD currency pair

Technical indicators of the currency pair:
Prev Open: 1.12185
Open: 1.12097
% chg. for the last day: -0.07
Day's range: 1.11837 - 1.12192
52 wk range: 1.0366 - 1.1616

Since the beginning of this week, EUR/USD is in a sideway movement. A unidirectional trend is not observed. The currency tests key support and resistance levels: 1.11600 and 1.12600, respectively. The market is waiting for additional drivers. Today, economic reports from the United States are at the center of attention.

There are no important statistical data on the EU economy today. We recommend you to pay attention to the news line from the USA:
- the basic orders for durable goods (15:30 GMT+3);
- data on the country's GDP (15:30 GMT+3);
- indices of consumer' expectations and sentiments from the University of Michigan (17:00 GMT+3).

Indicators signal the strength of buyers. The price has fixed above 50 MA and 200 MA.

The MACD histogram has begun to rise and is above the signal line, which indicates the growth of EUR/USD.

Stochastic Oscillator is located in the neutral zone, the %K line is above the %D line, which also gives a signal to buy EUR/USD.

Trading recommendations

Support levels: 1.11600, 1.11000
Resistance levels: 1.12600

If the statistics from the US are positive, a correction to the 1.11500-1.11250 mark may develop on the EUR/USD currency pair.

An alternative may be the growth of the EUR/USD quotations to the round level of 1.13000.

When tracking a position, one should use a trailing stop.

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