Current trend

The single European currency continues to decline against the US dollar after yesterday's ECB meeting.

The main trigger of the fall was the statement of the regulator's head Mario Draghi that interest rates will be kept at their current levels at least until the end of the summer of 2019. However, the quantitative easing program will be completed by the end of this year, as it was planned. Thus, in the global perspective, the dollar still remains a more attractive asset for investment, given the differential in interest rates in the US and the EU.

Today, important data on the US GDP for Q2 2018 will be published: it is expected to grow from 2% to 4.1%, which will also act as a price deflator for the pair. Most likely, the decline in the euro will continue.

Support and resistance

Stochastic is at the level of 15 points and indicates the possible correction.

Resistance levels: 1.1643, 1.1690.

Support levels: 1.1600, 1.1576.

Trading tips

Short positions may be opened from the level of 1.1643 with take-profit at 1.1576 and stop loss at 1.1690.

Euro vs US Dollar

BuySellSpread
1.130961.12995101

Scenario

TimeframeDay's Range
RecommendationsSELL LIMIT
Entry Point1.1643
Take Profit1.1576
Stop Loss1.1690
Support levels1.1576, 1.1600, 1.1643, 1.1690
EUR/USD: general review

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Start Trading
Follow us in social networks!
Live Chat
Leave feedback