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4-hour timeframe

Exchange Rates 15.03.2019 analysis

Technical details:

The senior linear regression channel: direction - down.

The junior linear regression channel: direction - down.

Moving average (20; smoothed) - up.

CCI: 84.9795

The EUR / USD currency pair on Friday, March 15, adjusted the moving average line and resumed its upward movement. Instrument volatility remains low, as all traders' attention remains focused on the British pound and polls in the British Parliament. Today in the eurozone, the consumer price index for February is scheduled to be published. The main indicator of inflation is expected to be 1.5% y / y. Any value below the forecast can cause new pressure on the European currency. In the United States today there will be a not very significant report on industrial production (an increase of 0.4% m / m is expected in February). As well as the preliminary value of the consumer confidence index from the Michigan Institute for March with a forecast higher than the previous value. Thus, the US dollar today will have very real chances of fixing below the moving average line since inflation in the EU is unlikely to exceed the forecast. Moreover, the fundamental reasons for the further strengthening of the euro are still lacking. And if you draw a straight line through the last peaks of the instrument, then you can see with the naked eye a downtrend and the fact that the price has come close to this trend line. Thus, we are waiting for the pair to turn down either now or after another small upward spiral.

Nearest support levels:

S1 - 1.1292

S2 - 1.1261

S3 - 1.1230

Nearest resistance levels:

R1 - 1.1322

R2 - 1.1353

R3 - 1.1383

Trading recommendations:

The currency pair EUR / USD is trying to resume the upward movement. Thus, it is now recommended to consider buy orders with targets at levels 1.1353 and 1.1383.

It is recommended to open sell orders if the pair is fixed below the moving average line with targets at 1.1261 and 1.1230, since the trend, in this case, will change to descending.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The senior linear regression channel is the blue lines of the unidirectional movement.

The younger linear regression channel is the purple lines of the unidirectional movement.

CCI - blue line in the indicator window.

The moving average (20; smoothed) is the blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

Heikin Ashi is an indicator that colors bars in blue or purple.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Paolo Greco,
Analytical expert
InstaForex Companies Group © 2007-2019
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