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4-hour timeframe
Technical details:
The senior linear regression channel: direction - down.
The junior linear regression channel: direction - down.
Moving average (20; smoothed) - up.
CCI: 100.5162
The EUR / USD currency pair on Monday, March 18, continues a weak upward movement, all with the same minimum volatility. Last week, there was very little macroeconomic news for the euro currency, and the news that did arrive was successfully ignored by the market, which focused all its attention on voting in the UK. The new work week begins with absolutely empty calendars in the USA and the European Union. Thus, today we are not waiting for any fundamental factors that will be able to influence the movement of the pair. At the same time, we note that the trade conflict between the EU and the States, which until now could be called "polite" and "calm", is beginning to gain momentum. Trump, who argues that the US dollar is too expensive, and all the country's trading partners "fair cost with the States," made a speech that the European Union should take an active part in trade negotiations. Otherwise, Trump threatens to impose economic sanctions and duties against the alliance. China is already convinced that these are not empty threats. And for the European Union, the introduction of duties on their products would mean a more severe blow to the economy than China had once suffered. In general, in the long term, the position of the Euro currency still looks extremely weak.
Nearest support levels:
S1 - 1.1322
S2 - 1.1292
S3 - 1.1261
Nearest resistance levels:
R1 - 1.1353
R2 - 1.1383
R3 - 1.1414
Trading recommendations:
The currency pair EUR / USD continues to move up. Thus, it is now recommended to consider buy orders with targets at levels of 1.1353 and 1.1383 before the Heikin Ashi indicator turns down.
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.
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