Trading news

EUR/USD: general analysis

Current trend 

On Monday the pair EUR/USD fell to the level of 1.3489 because ECB had lowered interest rate to the negative value. During the Asian session Euro has regained losses and at the moment it is trading at the level of 1.3530. 

Support and resistance

On the daily chart resistance level will be at the local highs of 1.3560 and 1.3579. Psychologically important level for the bulls will be 1.3600. Support to the pair will be provided by the level of 23.6% (1.3516) Fibonacci retracement, moving average with the period 55 (1.3489) and moving average with the period 100 (1.3414).

Trading tips

It is recommended to place sell orders below the level of 1.3489 with profit taking near 1.3414.

 

Andrey Cherkas

Analyst of LiteForex Group of Companies

Tuesday, 26 Nov, 2013 / 8:39

Source : https://www.liteforex.com/

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