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Amplitude of the last 5 days (high-low): 78p - 80p - 92p - 101p - 80p. Amplitude of the last 5 days (high-low): 78p - 80p - 92p - 101p - 80p.
The average is for 86n (88p).
Well, what happened was what the markets feared. Trump officially announced the introduction of a new package of trade duties on imports of Chinese goods to the total amount of $ 200 billion. The decision comes into effect on September 24. Fees will be set at 10% and will be valid until January 1, 2019, after which they will increase to 25%. If China goes on retaliatory measures, then Trump threatens to introduce duties on almost all the remaining goods for a total of $ 267 billion. Thus, Trump continues to put pressure on China, which so far responds with similar measures. What is noteworthy is that the dollar has not jumped in value after the promulgation of this decision. This is a very important point. Perhaps, traders finally realized that in the trade war, like in any other war, there will be no winners. This blow will inflict on the Chinese economy, but the US economy will suffer. Another noteworthy moment is when the price once again tested the level of 1.1720 and at the moment we can state a rebound from it. On the one hand, traders did not start buying dollars. On the other, the level of 1.1720 will not let the pair to go up. Thus, we have a very strong resistance zone of 1,1720 - 1,1750. Will the bulls still make their way through it - a big question. This is a very delicate moment, and, by and large, we still have to wait, what will happen next to this notorious level? Do not forget that earlier the price four times tested the mark of 1.1750 and all are four times unsuccessful.
Trading recommendations:
For the EUR / USD pair, the price once again achieved the level of 1,1721. A rebound of the price from this target or a turn of the MACD indicator down will indicate the beginning of a new round of downward correction about will serve as a signal for closing purchase orders.
Sell-positions are recommended to consider now but not earlier than overcoming the Kijun-Sen line, and preferably the Ichimoku cloud. This will only mean a change in the trend for the instrument, and the first goal will then be the support level of 1.1525.
In addition to the technical picture, one should also take into account the fundamental data and the time of their release.
Explanations to the illustration:
Ichimoku Indicator:
Tenkan-sen is a red line.
Kijun-sen is a blue line.
Senkou Span A is a light brown dotted line.
Senkou Span B - a light purple dotted line.
Chikou Span is a green line.
Bollinger Bands Indicator:
3 yellow lines.
MACD indicator:
Red line and histogram with white bars in the indicator window.InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
