Trading news

EUR/USD: holiday lull

Current trend

Since Monday the currency pair EUR/USD has traded in the upper band of the indicator “Bollinger bands” (1.3720-1.3670). The beginning of the holiday week has had soothing effect on the pair, which continues to trade in flat. The US data on number of orders for durable goods in November will become known today. It is expected that the index will increase by 1.7%, which can lead to the decline of quotes of the pair up to the lower limit of the range (1.3670).

Support and resistance

On the four-hour chart technical indicators demonstrate mixed signals, which is typical for the quiet market. Bollinger bands are getting horizontal. MACD histogram is in the negative zone, its volumes are decreasing. Stochastic lines are directed downwards.

Resistance levels: 1.3720, 1.3770 and 1.3810.

Support levels: 1.3670, 1.3620 and 1.3580. 

Trading tips

In the current situation it makes sense to open short positions at the current price with profit taking at the level of 1.3670.

 

Dmitry Zolotov
Analyst of LiteForex Group of Companies

Tuesday, 31 Dec, 2013 / 8:38

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

Trading news

 

USD the Main G10 Winner, New UK Prime Minister to be Announced

The dollar gained against all the other G10 currencies, perhaps as investors [...]

Posted on Tuesday, 23 Jul, 2019 / 7:57 under

USD Rises To A One-Week High

The US dollar was seen nearing a one-week high earlier today. The gains in the [...]

Posted on Tuesday, 23 Jul, 2019 / 7:56 under

Forex: EURUSD Could Breakout on the ECB Rate Meeting This Thursday - ATFX

Forex: EURUSD Could Breakout on the ECB Rate Meeting This Thursday - ATFX For [...]

Posted on Tuesday, 23 Jul, 2019 / 3:17 under