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EUR/USD: general analysis 16 August 2019, 14:11

EUR/USD: general analysis 16 August 2019, 14:11 Scenario Timeframe Weekly Recommendation SELL Entry Point 1.1076 Tak...

Jun 14, 2019

EUR/USD: general review 14 June 2019, 11:05


Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 1.1265
Take Profit 1.1220
Stop Loss 1.1300
Key Levels 1.1203, 1.1219, 1.1244, 1.1267, 1.1303, 1.1325, 1.1336, 1.1347
Alternative scenario
Recommendation BUY STOP
Entry Point 1.1305
Take Profit 1.1345
Stop Loss 1.1270
Key Levels 1.1203, 1.1219, 1.1244, 1.1267, 1.1303, 1.1325, 1.1336, 1.1347
Current trend
EUR, having reached two-month highs against USD at 1.1347, weakened dropping below 1.1300 under pressure from the possible imposition of US sanctions on Germany regarding the construction of a gas pipeline from Russia. The fear is that if the gas transit through Ukraine is stopped, the constructed pipeline can be used by Moscow as an instrument of pressure on the countries of Western Europe. Macroeconomic data did not support the euro either: Industrial Production in the euro area slowed down by 0.5% MoM and by 0.4% YoY.
Today market participants are waiting for the release of the data on the US Retail Sales (14:30 GMT+2). The market is expected to be highly volatile.
Support and resistance
Resistance levels: 1.1303, 1.1325, 1.1336, 1.1347.
Support levels: 1.1267, 1.1244, 1.1219, 1.1203.

Trading tips
Short positions may be opened from the level of 1.1265 with target at 1.1220 and stop loss at 1.1300.
Long positions may be opened from the level of 1.1305 with target at 1.1345 and stop loss at 1.1270.
Implementation time: 1-3 days.

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