EUR/USD: general analysis
Current trend
Last week, the European currency was strengthening against the US dollar and reached its two-month highs. Today, investors are waiting for the Fed interest rate decision. Experts suggest that, as economic risks are still high, while inflation and unemployment fail to reach the target levels, the Regulator will keep its interest rate unchanged. This decision may support the EUR/USD pair; otherwise, a sharp fall would follow.
Support and resistance
The level of 1.0996 is seen as a strong support level as both 0.0% Fibonacci and the lower MA of Bollinger Bands have concentrated there. Support levels are 1.1080 and 1.1114 (23.6% Fibonacci). MACD histogram is in the negative zone, its volumes are falling.
Trading tips
Place pending buy orders at the level of 1.1085 with the target at 1.1115 and stop-loss 1.1050.
Last week, the European currency was strengthening against the US dollar and reached its two-month highs. Today, investors are waiting for the Fed interest rate decision. Experts suggest that, as economic risks are still high, while inflation and unemployment fail to reach the target levels, the Regulator will keep its interest rate unchanged. This decision may support the EUR/USD pair; otherwise, a sharp fall would follow.
Support and resistance
The level of 1.0996 is seen as a strong support level as both 0.0% Fibonacci and the lower MA of Bollinger Bands have concentrated there. Support levels are 1.1080 and 1.1114 (23.6% Fibonacci). MACD histogram is in the negative zone, its volumes are falling.
Trading tips
Place pending buy orders at the level of 1.1085 with the target at 1.1115 and stop-loss 1.1050.
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