country flagالعربية
0
0

EUR/USD Technical analysis 11 December 2018

2018-12-11 04:52 am | Resource: Technical Analysis | No Views : 215

Time frame Used - four hours
The EURUSD is moving in a sideway direction in the near term.
EUR/USD CHART
The EURUSD failed to stability above the resistance levels of 1.382- 1.1400 after trying to break above it. The purchasing power pushed the EURUSD pair higher trying to breach the resistance level of 1.1382 to reach the 1.1436 level as the EURUSD faced resistance and violent selling pressure.
In view of the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery.
 Accordingly, we expect that the EURUSD will test levels of  1.1382-1.1420 again, and this scenario fails if the EURUSD stability above the level. 1.1382.
 The alternative scenario is that the EURUSD break level of 1.1300 down to test  the 1.1215 level.

Recommendation
Our view is currently neutral about EURUSD pair.
The fundamental overview
• On the economic data level there are no reports or data with a strong impact on the euro area.
• On the other hand, the US PPI will be released on a monthly basis at 8:30 am GMT, which measures the change in goods and services in the final form provided by producers on a monthly basis. It is a number of indicators that measure the average change in prices for goods and services. It is also a leading indicator of consumer price inflation, which accounts for the bulk of inflation in general.
Resistance: 1.1382 - 1.1435 - 1.1464
Support: 1.1300 - 1.1269 - 1.1215
Direction: sideway
Technical Analysis
Forex Analysis
Bitcoin News


Other news

Pound is retreating after Juncker's comments of disagreement and UK inflation data

The pound added to losses on Wednesday after outgoing European Commission President Jean-Claude Juncker warned there was a "real" risk of Britain leaving the EU to a deal where there is little time for talks. Meanwhile, data from the British Office for National Statistics (ONS) showed that UK producer prices rose 1.6% in August and inflation fell to 1.7% last month. UK inflation fell to 1.7% in August Annual price…

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.