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USD/JPY: general review 21 May 2019, 14:14

USD/JPY: general review 21 May 2019, 14:14 Scenario Timeframe Weekly Recommendation BUY Entry Point 110.26 Take Prof...

Mar 14, 2019

EUR/USD: general review 14 March 2019, 09:04

Scenario
Timeframe Intraday
Recommendation SELL LIMIT
Entry Point 1.1352
Take Profit 1.1291
Stop Loss 1.1380
Key Levels 1.1261, 1.1291, 1.1352, 1.1383
Current trend
The euro continues to strengthen against the US dollar. The nearest resistance level is at Murrey 4/8 or 1.1352. If the pair is able to consolidate above it, the next target will be the level of 1.1383.
The fall of the US currency is caused by weak data on the consumer price index, which in February added only 0.1%. The slowdown in inflation growth and economic indicators may be the main reasons for the Fed not to change the interest rate in the current year, which will adversely affect the dollar. On the other hand, the ECB rates are in the negative zone and, according to economists, they will remain there for a long time to support economic growth. Thus, USD is a more attractive currency for long-term investment.
Today, data on the Initial Jobless Claims, as well as sales of new houses in the United States will be published.
Support and resistance
Stochastic is at the level of 94 points and indicates the possible correction.
Resistance levels: 1.1352, 1.1383.
Support levels: 1.1291, 1.1261.

Trading tips
Short positions may be opened from the resistance level of 1.1352 with the target at 1.1291 and stop loss at 1.1380.

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