Tuesday, 3 April 2018

EUR / USD - pressure on the European currency intensifies

Posted by Anonymous at 18:58 Labels:

The beginning of the new week is characterized by increased pressure on the European currency amid the continued growth of USD dollar. At the end of last week, the pressure on the EUR / USD pair increased, and the pair dropped into the equilibrium zone of wide sideway channel - $ 1.23 level.
In general, EUR / USD continues to trade within a wide side range- $ 1.2555- $ 1.2190.
It is necessary to settle above the $ 1.23- $ 1.2340 zone in order to show some growth probability to the upper limit of the specified range.
At the same time, it can not be asserted that the exit from the trade range 1.2555-1.2155 will definitely indicate the further direction of Eur/Usd. As has been noted earlier, at the top everything will be decided from the ability to break through the resistance line, which are located around $ 1.2580- $ 1.2620.
To confirm the bearish sentiment, after the breakdown of the lower limit of the $ 1.2154 range, players will need to push the price under $ 1.2054.
For today, EUR / USD break below 1.23 means a support level test at $ 1.2240. If bears manage to push the market lower, there will be a test of the lower level of the medium-term channel $ 1.2555- $ 1.2190.
In any case, the current market situation assumes the preservation of the previous trading strategy-trade in the range. Longs from $ 1.2240 onwards and at 1.2190 are an interesting opportunity, taking into account the still strong uptrend in the EUR / USD pair.
Trading recommendations - carefull longs at $1.2240 and lower at $1.2190

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