Best Opportunities, Vision and Technical Analysis for the EUR/USD pair 20 March 2019
2019-03-20 07:56 am | Resource: Technical Analysis | No Views : 137
The EURUSD is moving in a sideway direction in the near term.
The EUR/USD is still facing resistance and selling pressure around the 1.1364 level as the EUR/USD is floating within an up channel as it faces resistance around the upper boundary of the up channel.
Level in view of technical indicators
Both the RSI and Stochastic are indicating to weakness of the indicators.
Therefore, we expect that the EUR/USD will fall back to level of 1.1320 again and this scenario fails in case of stabilize above level of 1.1366.
The alternative scenario is that the EUR/USD pair slide to levels of 1.1220 - 1.1174.
Looking at the EUR/USD movement on the daily time frame, the EUR/USD fell back to the important support level of 1.1211 and the break was a false break, and Both RSI and Stochastic are indicating to the arrival of indicators to the oversold area, Accordingly, we expect that the EUR/USD will target at 1.1430.
Our view is currently neutral around EUR/USD.
The fundamental overview
• On the economic data level German producer price data will be released on a monthly basis at 2 am.
On the other hand, the Federal Reserve Economic Outlook data will be released at 1 pm GMT, as well as Federal Reserve data releases at 1 pm GMT, as well as the Federal Reserve's statement at 1 pm GMT, To the Federal Reserve Committee press conference at 1.30 pm GMT.
Resistance: 1.1338 - 1.1366 - 1.1410
Support: 1.1290 - 1.1220 - 1.1174
The dollar rose and the euro weakened as the pound traded mixed in European trade as traders awaited the new Brexit and trade war after US Commerce Secretary Wilbur Ross said on Monday that a "correct" trade deal with China was more important than signing in November. Ross: China's deal should be right, not quick The comments come after President Donald Trump said the "first phase" deal should be "easy…
- Dollar stabilizes and pound,euro rise at end of weekly trading 11:03 am2019-10-18
- Dollar declined and the Pound gained after the Brexit deal 11:26 am2019-10-17
- Sterling falls on Wednesday amid pessimism in Brexit talks 11:42 am2019-10-16
- Euro fell as pound rose while dollar was mixed during Tuesday's 01:32 pm2019-10-15
- Sterling fell and euro rose amid renewed uncertainty about Brexit 11:29 am2019-10-14
- Sterling pound rose against major to its highest in two years 12:28 pm2019-10-11
- Euro rises against major after the release of the ECB minutes 01:15 pm2019-10-10
- British Pound Rises Despite the Contraction of British Economy 09:36 am2019-10-10
- Dollar weakened amid investor focus on trade talks and Brexit 12:04 pm2019-10-09