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By the end of the last trading week, the Euro / Dollar currency pair showed low volatility of 44 points. As a result, it gained from the recently passed level. From the point of view of technical analysis, we see that after a slight pullback to the level of 1.1300, the bulls managed to recover their positions, amplifying from this level and continuing as a result of the upward move. The news background, to put it mildly, is sluggish. It is already considered unsurprising when it comes to the Brexit. However, it is still presenting news information- example of which is the statement of Prime Minister Theresa May, where threats to the parliament were heard once again. The essence of what is happening is that if Euro-skeptics in its Conservative Party do not promise to vote for an agreement this week, then May might abandon the attempt to hold Brexit in the near future. Now, back to the real world, we can see that the EUR somehow reacts neutrally to everything that happens in England, living its own world. Persistent growth, which is demonstrated by the single currency, is probably related to the upcoming Fed meeting, where, to put it bluntly, a soft statement on monetary policy is expected.
Today, the economic calendar is empty, work is being done on the general background of the market.
Further development
Analyzing the current trading schedule, we see that the quotation is quite confidently gaining momentum, overcoming without any difficulties the maximum of 1.1344 Friday. It is likely to assume that the upward interest will remain in the direction of the 1.1375 cluster, where at the same time the mid-term Fibo-level of 50.0 is concentrated.
Based on the available data, it is possible to decompose a number of variations, let's consider them:
- Buy positions have been considered by traders since Friday, as soon as the quote broke the value of 1.1340. Now, there is a process of conducting the transaction in the direction of 1.1375-1.1400.
- Sell positions are considered in the case of a downturn bull positions in the range of 1.1370 / 1.1375, where in case of a slowdown it will be possible to regard short positions.
Indicator Analysis
Analyzing a different sector of timeframes (TF ), we see that in the short, intraday and medium term, there is an upward interest against the general background of the market.
Weekly volatility / Measurement of volatility: Month; Quarter; Year
Measurement of volatility reflects the average daily fluctuation , with the calculation for the Month / Quarter / Year.
(March 18, was based on the time of publication of the article)
The current time volatility is 40 points. In the case of the continuation of the upward trend, the volatility of the day can closely achieve the average daily rate.
Key levels
Zones of resistance: 1.1440; 1.1550; 1.1650 *; 1.1720 **; 1.1850 **; 1.2100
Support areas: 1.1300 **; 1.1214; 1.1120; 1.1000
* Periodic level
** Range Level
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