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Warunki handlowe
Narzędzia
4-hour timeframe
Technical details:
The upper linear regression channel: direction - down.
The lower linear regression channel: direction - down.
The moving average (20; smoothed) - sideways.
CCI: -13.6298
The new trading week starts quietly for the pair EUR/USD. The pair returned to the moving average line and now the issue with the further trend for the next few days is being resolved. We continue to believe that the euro has nothing to oppose the US dollar in the long run. Despite good indicators of GDP and inflation, the EU economy still looks much weaker than the US. This means that the US economy remains much more attractive for investment than the European one. This factor will determine the demand for the dollar and the euro. Friday's reports from Europe and the United States caused an unexpected reaction from investors. It would seem that a strong report on NonFarm Payrolls, which fell to historical lows of unemployment should cause a strong demand for the US currency. However, in practice, the US dollar has even fallen in price. TTherefore, we believe that now the fundamental factors, or rather macroeconomic reports, are not for traders forming their trading preferences. Today, May 6, the eurozone will publish the index of business activity in the services sector, the composite index of business activity and retail sales. At first glance, these are not the most significant indicators, but we note that at the time of publication of the US reports on Friday, the European markets were already closed, so today we can observe a delayed reaction to Friday's data. Accordingly, the strengthening of the dollar today is absolutely impossible to exclude.
Nearest support levels:
S1 - 1.1169
S2 - 1.1108
Nearest resistance levels:
R1 - 1.1230
R2 - 1.1292
R3 - 1.1353
Trading recommendations:
The EUR/USD currency pair has begun to adjust. Thus, short positions with targets at 1.1169 and 1.1108 remain relevant now. A reversal of the Heiken Ashi indicator down will indicate the end of the upward correction.
It is recommended to open buy orders not earlier than fixing the pair above the moving average line with the first target at 1.1230.
In addition to the technical picture should also take into account the fundamental data and the time of their release.
Explanations for illustrations:
The upper linear regression channel is the blue lines of the unidirectional movement.
The lower linear regression channel is the violet lines of the unidirectional movement.
CCI - the 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.
Heiken Ashi is an indicator that colors bars in blue or purple.
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