country flagالعربية
0
0

EUR/USD Technical analysis 14 December 2018

2018-12-14 06:49 am | Resource: Technical Analysis | No Views : 194

Time frame Used - four hours
The EURUSD is moving in a sideway direction in the near term.
EUR/USD CHART
The EURUSD is still trading above level of 1.1300, but is still facing resistance and selling pressure around the 1.1382 level, where uncertainty remains over the euro zone.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the weakness of the indicators as well as the inability of prices to reach the upper boundary of the Bollinger Index.
 Therefore, we expect that the EURUSD will retreat to the 1.1300 level, which by breaking it down the EURUSD will target the levels of 1.1266 - 1.1215, and this scenario would fail if the EURUSD breached level of 1.1382 to upside.
 The alternative scenario is that the EURUSD re-test level of 1.1382 again.
Recommendation
Our view is currently neutral about EURUSD pair.
The fundamental overview
• On the economic data level, the US retail sales report will be released on a monthly basis at 8.30 GMT, which measures the total value of retail sales and the amounts received in stores and consumer services on a monthly basis. Data are collected through a monthly retail sales survey conducted by the US Bureau of Statistics. The index includes consumer spending on durable and non-durable goods.
• On the other hand there are no reports with a strong impact on the euro area.
Resistance: 1.1382 - 1.1435 - 1.1464
Support: 1.1300 - 1.1269 - 1.1215
Direction: sideway
Technical Analysis
Forex Analysis
Bitcoin News


Other news

Dollar weakened as the outcome of US-China trade talks awaited

The dollar traded lower against the currencies as traders were also wary of looking for riskier assets awaiting developments on the trade front. The Fed cut its target overnight rate by a quarter percentage point on Wednesday, to a level of 1.75% to 2.0%, to offset slowing global growth and the risks partly associated with President Donald Trump's trade battles with China. This was the second Fed rate cut this…

More news

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.