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Technical data:
The senior channel of linear regression: direction - down.
The younger channel of linear regression: the direction is up.
The moving average (20; flattened) is up.
СCI: 12.5642
The currency pair EUR / USD corrected to the moving average line on September 17, but it could not consolidate below it. Thus, we have a very ambiguous picture. On the one hand, the pair, after several attempts, could not overcome Murray's level "8/8", thus, the growth potential is limited. On the other hand, it was not possible to withdraw as well below the removals. Under such conditions, we believe that there is a better chance of overcoming the removals, which can bring the pair back into a downward trend. Today, all the attention of traders will be focused on the publication of the report on inflation in the Eurozone for August. The forecasts are neutral, however, the real value may differ from the forecast. The question is, in which direction? Slowing inflation in the EU with a high probability of causing new sales of the European currency. Acceleration cannot cause any reaction of traders. Four attempts to overcome the level of 1.750 and three attempts for the level of 1.1720 indicate that there are few new euro buyers at these levels, which means that positive news from the EU is needed for the further growth of the Euro currency, and not negative from the States or personally from Donald Trump. In general, despite the growth of the euro in recent weeks, we continue to believe that as long as Trump does not take up a purposeful fight against the high dollar rate, the inclination in the markets will be precisely towards buying US currency.
Nearest support levels:
S1 - 1.1597
S2 - 1.1536
S3 - 1.1475
Nearest resistance levels:
R1 = 1.1658
R2 = 1.1719
R3 = 1.1780
Trading recommendations:
The currency pair EUR / USD was adjusted to the moving-house. Thus, the rebound of the price from the moving or the turn of the indicator of Heikin Ashi upward will serve as a signal for the opening of new purchase orders with the target of 1.1719.
It is recommended to open short positions after traversing the moving average line with the goal of 1.1597, and further to 1.1536. In this case, for a while, the initiative on the instrument will pass into the hands of the bears.
In addition to the technical picture, one should also take into account the fundamental data and the time of their release.
Explanations for illustrations:
The upper channel of linear regression is the blue lines of unidirectional motion.
The lowest linear regression channel is the violet lines of unidirectional motion.
CCI - the blue line in the indicator window.
Moving average (20; smoothed) - the blue line on the price chart.
Levels of Murray - multi-colored horizontal stripes.
Heikin Ashi is an indicator that color bars in blue or purple.
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