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ECB stimulated the euro growth

07 March 2014, EUR/USD


ECB stimulated the euro growth

The central Thursday’s event ECB meeting was and subsequent press conference of his head Mario Draghi. Despite the fact that the European regulator states that there is no a threat of deflation in the euro-zone - the leading indicators do not show such a joyful picture. The Consumer price index now stands at 0.8 % y/y, well below the target level 2%.

The support levels: 1.3810-1.3800 and the resistance levels: 1.3860-1.3840.

The MACD is pointing upwards, indicating an uptrend.

Trading recommendations

It is advised to stay out of trading today. It is hard to predict the further movement. Everything shows at a growth, still it is hard to say whether it will be continued today. There is a high probability of a flat and a bounce down to 1.3810.


ECB stimulated the euro growth

In the midst of the European trading session, the Bank of England held a meeting. Traders did not expect any changes from the British regulator. All marks to tighten monetary policy are showed - respectively the market reaction will be minimal at this event. In general, we can expect a moderate lateral trend.

The support levels: 1.6672 - 1.6623 and the resistance levels: 1.6725 - 1.6822.

The MACD is pointing up that indicates the current upward price movement now.

Trading recommendations

The pound/dollar again made an attempt to grow towards the 68th figure, and again it failed. The pair just grew above 1.6742 and failed. Losing the current support will weaken the bullish strength and will reduce the rate to 1.6600-1.6583.


ECB stimulated the euro growth

American reports continue to disappoint investors, which can act as a deterrent for the growth. Only price growth in the stock markets can cheer the "bulls". On the other hand - the economic slowdown in the United States could lead to a pause in reducing program QE- 3, which is positive for the global market.

The support levels: 102.16 - 101.66 and the resistance levels: 102.82 - 103.37.

The MACD is pointing up, that indicating the current uptrend.

Trading recommendations

Outlook of the pair has improved markedly, and the risks of a breakdown resistance around 102.82 increased. In this case, we can expect a growth to the 104th figure. The support loss in the 102.20-102.00 will weaken the bullish momentum.

Ruban Sergey
Analyst of «FreshForex» company
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