Monday, 28 May 2018

EUR / USD - the pair moves lower to the strategic level 1.1555

Posted by FortFS at 17:44 Labels: trading signals

At the end of the week, the single European currency continued its downward trend, as EUR / USD currency pair lost 0.92%. The main impact on the price dynamics of the EUR/USD last week was provided by the FOMC protocols, the yield of US government bonds, as well as the political situation in Italy. If we briefly summarize all these factors, we can simply say that all factors have had a sharp negative impact on the European currency.

The beginning trading week will be full of economic data, the release of a number of important macroeconomic reports, is possible to highlight the publication of data on the US labor market.

Technically, the past week closed with a pullback in EUR / USD on the background of profit taking before the weekend, especially taking into account the long weekend in the US. With the start of European trading earlier today, the pressure on the pair resumed.

In the middle of European session EUR / USD is trading at 1.1618 and continues to decline to the zone of nearest support 1.1555.

Trading recommendations – shorts down to 1.1555