Trading news

EUR/USD: European currency has rushed up again

Current trend

On Thursday the pair received strong support from positive statistics on business activity index in Eurozone. The index was above the most optimistic forecast and the pair sharply went up , reaching the key resistance level of 1.3700. Although not many important news releases from the US and Europe are scheduled for today, however attention shall be paid to the speech of ECB chairman, Mario Draghi. It is likely that the pair will continue to consolidate in the sideways channel.

In the medium-terms the pair will continue to strengthen. Next Monday German LFO will become known, if the data confirms positive forecast, the pair will continue to grow to the local highs of 1.3800 and 1.3830, and after that will return to support level of 1.3500.

Support and resistance 

Support levels: 1.3650, 1.3500, 1.3420 and 1.3300.

Resistance levels: 1.3700, 1.3800 and 1.3830.

Trading tips

It is advisable to place pending orders to sell near 1.3800-1.3830 with profit taking at the level of 1.3500.


Dmitry Likhachev
Analyst of LiteForex Group of Companies

Friday, 24 Jan, 2014 / 10:23

Source :

Trading news


US stimulus deal moves closer, Brexit talks ‘go backwards’

  Stocks at records or near highs as US Republicans change tune on [...]

Posted on Friday, 04 Dec, 2020 / 10:38 under

Bulls remain in control despite Brexit tensions – GBP/USD Market Outlook – 04/12/2020

The pound resumed its overall bullish trend, reaching our 1.3450 target, [...]

Posted on Friday, 04 Dec, 2020 / 8:59 under

DOW remains torn between good and bad news – DOW JONES Market Outlook – 04/12/2020

Another lackluster session is expected today for the Dow Jones stock index [...]

Posted on Friday, 04 Dec, 2020 / 8:58 under