Current trend
Yesterday the rate of EUR/USD managed to consolidate above 1.0900 and reached the level of 1.0949. The price of EUR grew in view of the upcoming ECB meeting. Experts believe that the regulator shall keep the fiscal policy unchanged. Strong currency prevents ECB from reaching target inflation levels that remain very low. That is why the comments of meeting participants are likely to be "dovish".
Today's central event will be the statement by the US President Donald Trump about taxation reform. Investors are optimistic and expect the President to present a detailed plan of the bill. If the statement disappoints market players, US dollar may fall considerably.
Support and resistance
On D1 chart the pair continues to move downwards. A strong resistance level of 1.0870 is waiting ahead. MACD indicator is above zero and signal lines with its volumes growing. Stochastic is located in the oversold zone and its lines are directed sidewards. There is a weak buying signal.
Support levels: 1.0870, 1.0805, 1.0760, 1.0700.
Resistance levels: 1.0905, 1.0950, 1.1015.
Trading tips
Buy positions may be opened above 1.0910 with targets at 1.0950, 1.1015 and stop-loss at 1.0880.
Short positions will become relevant below 1.0870 with targets at 1.0805, 1.0760 and stop-loss at 1.0910.
The period of implementation is 1-2 days.
Yesterday the rate of EUR/USD managed to consolidate above 1.0900 and reached the level of 1.0949. The price of EUR grew in view of the upcoming ECB meeting. Experts believe that the regulator shall keep the fiscal policy unchanged. Strong currency prevents ECB from reaching target inflation levels that remain very low. That is why the comments of meeting participants are likely to be "dovish".
Today's central event will be the statement by the US President Donald Trump about taxation reform. Investors are optimistic and expect the President to present a detailed plan of the bill. If the statement disappoints market players, US dollar may fall considerably.
Support and resistance
On D1 chart the pair continues to move downwards. A strong resistance level of 1.0870 is waiting ahead. MACD indicator is above zero and signal lines with its volumes growing. Stochastic is located in the oversold zone and its lines are directed sidewards. There is a weak buying signal.
Support levels: 1.0870, 1.0805, 1.0760, 1.0700.
Resistance levels: 1.0905, 1.0950, 1.1015.
Trading tips
Buy positions may be opened above 1.0910 with targets at 1.0950, 1.1015 and stop-loss at 1.0880.
Short positions will become relevant below 1.0870 with targets at 1.0805, 1.0760 and stop-loss at 1.0910.
The period of implementation is 1-2 days.