Log in

The euro is below a rising trend line

27 March 2014, EUR/USD


The euro is below a rising trend line

We do not expect any interesting macroeconomic releases from the Eurozone in the lights of this background we can expect a side trend. In the U.S. trading session the States will publish a report on orders for durable goods. Despite the U.S. economy recovery after a significant decline in December and January - now few prerequisites for good output data better median forecasts. Perhaps the presence of a short-term demand is expected.

The support level 1.3740 and the resistance level 1.3810.

MACD indicates an upward movement.

Trading Recommendations

The overall picture remains unchanged; the inability of a rising above 1.3844 will be an opportunity to get profit with possible decrease to 1.3720.


The euro is below a rising trend line

The UK won’t please the investors with a publication of interesting reports. The inflationary pressures compression certainly has been a major negative factor for the British currency growth. Late last year, the institutional investors are actively opening long positions in the GBP/USD pair with the expectation of a speedy increase in interest rates by the Bank of England. Now this investment idea is questioned, due to a lower consumer price index.

The support level: 1.6550 and the resistance level 1.6600.

MACD is pointing up, indicating the current price correction movement.

Trading Recommendations

Traders have a negative sentiment versus the pound, the decrease risks to the 64th figure are preserved. The growth and the ability to consolidate above the 66th figure will weaken the bearish pressure and endanger the breakdown resistance level 1.6653.


The euro is below a rising trend line

The "Bulls" and the "Bears" can’t determine the winner for 4 days. A set of an important macroeconomic statistics from Japan will be issued today and it’s possible that the investors will decide to wait now. We expect the U.S for durable goods release, which also will not be able to become a major driver for a growth. In general, during the day we can expect the development of a side trend.

The support level 101.90 and the resistance level 102.30.

MACD goes down if the indicator changes its direction to upward, it can become an upward movement.

Trading Recommendations

The overall picture remains unchanged. The falling below the 102nd figures gives bears opportunity to test the support level 101.59. In its turn, the rising above 102.68 will jeopardize the 103rd figure.

Ruban Sergey
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.