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The Euro / Dollar currency pair for the last trading day again showed low volatility of 40 points, but still, it has maintained an upward potential. From the point of view of technical analysis, we have a progressive upward movement, where the quotation has already reached 1.1358, subsequently forming a completely normal pullback. The news background keeps to some extent neutral on the eve of tomorrow's Fed meeting. In turn, the "divorce" process goes on as usual, where the British Prime Minister Theresa May again failed and her early threats came to naught. The British parliament has already announced that it will wait for another proposal on Brexit, thus, on Thursday, it will be necessary in Brussels to ask for the postponement of the withdrawal.
Today, in terms of the economic calendar, we have EU data on wages. For the United States of America, we are only waiting for the volume of industrial orders, where growth is expected from 0.1% to 0.3%, but the key news for the States is waiting for tomorrow.
Further development
Analyzing the current trading chart, we see that bullish interest persists in the market, where the quotation after the recent pullback has again gone up. It is likely to assume that in the case of a fixation higher than 1.1360, we will open the way to 1.1375-1.1400.
Based on the data available, 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 they were quoted. Now, there is a process of 1.1375-1.1400.
- Sell positions are considered in the case of a downturn bull positions within 1.1375 / 1.1400, where in the 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 19, was based on the time of publication of the article)
The current time volatility is 17 points. It is possible to take into account the 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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