Antony_NPBFX
NPBFX Representative (unconfirmed)
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EUR/USD: euro remains under pressure 22.01.2019
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading.
Current trend
Yesterday, EUR rose uncertainly against USD within the correction after last week’s fall. However, the pair failed to consolidate in the new positions and by the end of the session, lost its advantage.
EUR growth is constrained by negative PRC data. Chinese Q4 2018 GDP declined. The indicator fell from 1.6% QoQ to 1.5% QoQ and from 6.5% YoY to 6.4% YoY (the worst figure since 1990). Also, European investors are monitoring the situation around Brexit. Yesterday, Prime Minister Theresa May announced a backup plan for an agreement with the EU.
Today, January German and EU data on the index of business sentiment from ZEW will be published. According to the forecast, the number of pessimists in German business circles will increase: the figure will grow from –17.5 to –18.4. EU figure will decrease from –21.0 to –20.1 but pessimism will continue to prevail in European business circles, which may adversely affect EUR.
Support and resistance
On the daily chart, Bollinger bands move flat. The price range is virtually unchanged but remains wide enough for the current activity level. MACD falls, keeping a strong sell signal (the histogram is below the signal line). Stochastic reached its lows, reversed horizontally, indicating the growing risks of an upward correction in the super short term.
It is better to wait until the situation is clear.
Resistance levels: 1.1376, 1.1400, 1.1421, 1.1442.
Support Levels: 1.1351, 1.1333, 1.1300, 1.1268.
Trading tips
Long positions can be opened after a rebound from 1.1351 and a breakout of 1.1376 with the targets at 1.1421–1.1442. Stop loss is 1.1351. Implementation period: 2–3 days.
Short positions can be opened after the breakdown of 1.1351 with the target at 1.1300. Stop loss is 1.1376–1.1380. Implementation period: 1–2 days.
Use more opportunities of the NPBFX analytical portal: economic calendar.
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on EUR/USD and trade efficiently with NPBFX.
Good afternoon, dear forum visitors!
NPBFX offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading.
Current trend
Yesterday, EUR rose uncertainly against USD within the correction after last week’s fall. However, the pair failed to consolidate in the new positions and by the end of the session, lost its advantage.
EUR growth is constrained by negative PRC data. Chinese Q4 2018 GDP declined. The indicator fell from 1.6% QoQ to 1.5% QoQ and from 6.5% YoY to 6.4% YoY (the worst figure since 1990). Also, European investors are monitoring the situation around Brexit. Yesterday, Prime Minister Theresa May announced a backup plan for an agreement with the EU.
Today, January German and EU data on the index of business sentiment from ZEW will be published. According to the forecast, the number of pessimists in German business circles will increase: the figure will grow from –17.5 to –18.4. EU figure will decrease from –21.0 to –20.1 but pessimism will continue to prevail in European business circles, which may adversely affect EUR.
Support and resistance
On the daily chart, Bollinger bands move flat. The price range is virtually unchanged but remains wide enough for the current activity level. MACD falls, keeping a strong sell signal (the histogram is below the signal line). Stochastic reached its lows, reversed horizontally, indicating the growing risks of an upward correction in the super short term.
It is better to wait until the situation is clear.
Resistance levels: 1.1376, 1.1400, 1.1421, 1.1442.
Support Levels: 1.1351, 1.1333, 1.1300, 1.1268.
Trading tips
Long positions can be opened after a rebound from 1.1351 and a breakout of 1.1376 with the targets at 1.1421–1.1442. Stop loss is 1.1351. Implementation period: 2–3 days.
Short positions can be opened after the breakdown of 1.1351 with the target at 1.1300. Stop loss is 1.1376–1.1380. Implementation period: 1–2 days.
Use more opportunities of the NPBFX analytical portal: economic calendar.
Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website.
If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist.
Use the current recommendations of analysts on EUR/USD and trade efficiently with NPBFX.