Trading news

EUR/USD: Analysis and forecast

Current trend

On Monday afternoon the bulls managed to raise quotes of the pair EUR/USD above resistance level of 1.3915. Next target of the ascending movement is the level of 1.3935. Bad reporting from Europe and positive US statistics failed to decrease investors’ interest to Euro.

Consumer price index in Eurozone fell by 0.1% against the previous value, to the level of 07% on annual basis. Therefore, inflation rate is far from the target level of 2%, set by ECB. Volume of US industrial output has increased by 0.6% in February against expectation of 0.1%. Capacity utilization also increased to the level of 78.8% against prediction of 78.6%.

Investors are waiting for the US fundamental news, which will be released on Wednesday: payment balance for Q4 last year and key interest rate.

Levels of support and resistance

Resistance levels: 1.3935, 1.3965 and 1.4000.

Support levels: 1.3915, 1.3880 and 1.3845.

On the four-hour chart Bollinger bands are directed sideways, indicating the lull in the market. MACD histogram is above the zero line, its volumes are decreasing; therefore it is too early to expect the formation of downtrend.

Trading tips

Buy positions are recommended after breakdown of the level of 1.3935 with the nearest target of 1.3965. If this level is broken down, the pair will be able to go up to strong resistance level of   1.4000. In case of downtrend sell positions can be opened after breakdown of the level of 1.3880 with the nearest target of 1.3845.


Vadim Smarzh,

Analyst of LiteForex Group of Companies

Tuesday, 18 Mar, 2014 / 10:49

Source :

Trading news


Intraday Market Analysis – Recovery Momentum

EURUSD breaks above key resistance eurusd The euro recoups last month’s [...]

Posted on Tuesday, 20 Apr, 2021 / 1:00 under

What To Expect Out Of Bank Of Canada Interest Rate Decision

There is an increasing consensus that we will get some action out of the BOC [...]

Posted on Tuesday, 20 Apr, 2021 / 12:54 under


Coca-Cola reported quarterly sales growth for the first time after four [...]

Posted on Tuesday, 20 Apr, 2021 / 10:04 under