19.03.201913:36 Forex Analysis & Reviews: EUR / USD. March 19. The trading system. "Regression Channels". The threat of a trade war with the EU has no effect on the euro

Análisis a largo plazo

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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: 106.9054

The EUR / USD currency pair on Tuesday, March 19, is trying to resume an upward movement after a minimal downward correction. The pair continues to trade calmly with minimal volatility. No important macroeconomic reports have been published in recent days, so traders are deprived of fundamental support. News that the States may provoke another trade war, now with the European Union, is not taken seriously by the market yet. However, it should be recognized that such a threat exists, and if the start thereof, the European currency is unlikely to take a winning position in pair with the US dollar. Today, the European Union also does not have a single important report scheduled and the US calendar is also empty. Thus, it remains for market participants to rely only on technical factors when making trading decisions. From a technical point of view, the Heikin Ashi indicator is turning up, so we should expect a resumption of a moderate upward movement. In general, we still believe that the current strengthening of the euro is a bit unjustified and in the near future, a new downtrend may form on the pair. This option is supported by the fact that each subsequent maximum of the pair was lower than the previous one, as well as the downward direction of both linear regression channels.

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 EUR / USD currency pair resumes upward movement. Thus, it is now recommended to consider long positions with targets at levels 1.1353 and 1.1383 before turning the Heikin Ashi indicator back down, which will indicate a new round of correction.

Sell positions will become relevant if the pair is fixed below the moving with targets 1.1261 and 1.1230, as the trend for the pair, in this case, will change to downward.

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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