Current trend
Yesterday amid the publication of ECB decision on interest rates, EUR/USD volatility was high. Interest rates remained unchanged, and ECB President Mario Draghi said that it would be inappropriate to adopt any radical measures at this time. By the end of the trading session, the pair returned in the region of 1.1245-1.1260. Moreover, weak macroeconomic statistics were released today in Germany that could be a negative factor for the European currency.
Support and resistance
Bollinger Bands on the 4-hour chart is directed up while the price range is narrowing. MACD histogram is in the positive zone; its volumes remain quite high. Stochastic has turned up near the border of the oversold zone.
The indicators recommend waiting for clearer trading signals.
Support levels: 1.1261, 1.1255, 1.1245, 1.1233, 1.1219, 1.1209.
Resistance levels: 1.1276, 1.1284, 1.1294, 1.1307, 1.1312.
Trading tips
Long positions can be opened form the level of 1.1275 with the target at 1.1310 and stop-loss at 1.1255. Validity – 1-2 days.
Short positions can be opened form the level of 1.1255 with the target at 1.1230 and stop-loss at 1.1265. Validity – 1-2 days.
Yesterday amid the publication of ECB decision on interest rates, EUR/USD volatility was high. Interest rates remained unchanged, and ECB President Mario Draghi said that it would be inappropriate to adopt any radical measures at this time. By the end of the trading session, the pair returned in the region of 1.1245-1.1260. Moreover, weak macroeconomic statistics were released today in Germany that could be a negative factor for the European currency.
Support and resistance
Bollinger Bands on the 4-hour chart is directed up while the price range is narrowing. MACD histogram is in the positive zone; its volumes remain quite high. Stochastic has turned up near the border of the oversold zone.
The indicators recommend waiting for clearer trading signals.
Support levels: 1.1261, 1.1255, 1.1245, 1.1233, 1.1219, 1.1209.
Resistance levels: 1.1276, 1.1284, 1.1294, 1.1307, 1.1312.
Trading tips
Long positions can be opened form the level of 1.1275 with the target at 1.1310 and stop-loss at 1.1255. Validity – 1-2 days.
Short positions can be opened form the level of 1.1255 with the target at 1.1230 and stop-loss at 1.1265. Validity – 1-2 days.