Tuesday, November 21, 2017

EURUSD general analysis

EUR / USD: general analysis

Current trend

The single European currency slightly weakened position
against the US dollar during the trading session on 23 February. AT
Monday the pair is trading in a price range 1.1382-1.1295, and is currently
at the level of 1.1332.

Today it will be published by Eurostat the total value
the consumer price index, and the European currency may play lost
position if the indicator still grow. Also today, a speech
address by the President of the ECB Mario Draghi, his comments on the future
Monetary policies can have a significant impact on traffic

On the other hand, today's news from the United States are also able to
affect the price movements of the currency pair. The indicator of confidence level
consumers to preliminary estimates should be lower than the previous value,
which could negatively affect the dollar exchange rate. In addition, the volatility
currency add the speech of the Federal Reserve, Janet Yellen.

Support and resistance levels

the closest level
resistance marker is 1.1409 (moving average with the period 10). strong
Resistance levels of local maxima are 1.1450 and 1.1475. support
serve as local minimum 1.1279 and 1.1097.

trading recommendations

the short term, it is recommended to open long positions in order to
1.1409-1.1430 area. As an alternative scenario can be considered
opening short transactions exit point at 1.1280-1.1230.

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