2016-07-29 10:47:41

Technical data of the currency pair:

Previous closing: 1.1077; Daily range: 1.1073-1.1097;
Opening: 1.1077; 52-week range: 1.0538-1.1713;
Annual revenue: +0.87%; Change in % for the previous day: +0.16.

Analytical review:

  • ​The currency managed to maintain strong support level of 1.0975, which caused correction in the pair. Over the past few sessions the Euro rose over 100 points against the USD;
  • According to the data released by German Federal Statistical Office yesterday, unemployment rate in Germany fell by 7000 against the forecast of 3000;
  • Atlanta Fed downgraded forecast for GDP growth in the USA. The regulator expects now that GDP will be at the level of at the level of 1.8% against the previous forecast of 2.3% (on annual basis);
  • “Commitments of Traders" shows that the number of long positions rose by 17916 contracts, to 261267. 128306 contracts were concluded for short positions;
  • Today consumer price index of EU and US GDP will become known. This news can affect market volatility and currency movement.


  • Positive German statistics and downgraded forecast for the US GDP growth support demand for the Euro. According to “COT” large investors have significantly increased the number of long positions.
  • It is expected that the Euro will rise against the USD. It is advisable to open long positions.

Trading tips for the currency pair EUR/USD

Key levels:
Support levels: 1.1075, 1.1020 and 1.0975.
Resistance levels: 1.1110 and 1.1160.

Medium-term trading, H1
At the moment the currency has broken up and consolidated above the local resistance level of 1.1075. If the price maintains the mirrored support level of 1.1075 and in case of the respective confirmation (such as Price Action pattern), we recommend to open long positions. Risk per trade is not more than 2% of the capital. Stop order can be placed slightly below the signal line. Take profit can be placed in parts at the levels of 1.1150, 1.1200 and 1.1250 with the use of trailing stops.

Medium-term trading, H1
Medium-term trading, H1

Short-term trading, М15
At the moment the currency is traded in the range of 1.1080-1.1105. It is advisable to enter the market after breaking down and testing of this zone. Positions can be opened at the signal line and the nearest support/resistance level. Risk per trade is not more than 3% of capital. Stop-order can be placed slightly above/below the signal line. Take profit can be placed in parts of 50%, 30% and 20% with the use of trailing stops.

Short-term trading, М15
Short-term trading, М15