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Herramientas
4-hour timeframe
Technical details:
The senior linear regression channel: direction - up.
The junior linear regression channel: direction - down.
Moving average (20; smoothed) - down.
CCI: -126.8487
At the beginning of the new trading week, the EUR / USD currency pair, as if nothing had happened, continues the downward movement, as evidenced by the blue bars of the Heikin Ashi indicator. The pair overcame the Murray level of "1/8" - 1.1292, which opens the way to the next Murray level of "0/8" - 1.1230. However, we still believe that at current price values, the pair is likely to turn to the top with a subsequent increase to the level of 1.1500. It is in this area that the pair has been moving for several months. Thus, the turn of the indicator Heikin Ashi upwards will mean at least a correction, and as a maximum, the beginning of an upward movement. At the same time, nothing prevents the pair from continuing to move down and to update several local minima at once. Thus, the lack of reversal Heikin Ashi upward will indicate the continuation of the downward movement. Of the fundamental events can be noted the speech of Fed Chairman Jerome Powell, which is scheduled for tonight. In the course of the day, no publications in the Eurozone and States are planned. In the meantime, a new "shutdown" is being prepared in the States, since Donald Trump and the Democrats are still unable to agree on either the wall or the immigration policy. This event may coincide with the technical reversal of the pair to the top.
Nearest support levels:
S1 - 1.1230
S2 - 1.1169
S3 - 1.1108
Nearest resistance levels:
R1- 1.1292
R2 - 1.1353
R3 - 1.1414
Trading recommendations:
The EUR / USD currency pair continues a slight downward movement. Thus, the short positions remain relevant until the Heikin Ashi indicator is reversed to the top with the goal of Murray level of "1/8" - 1.1230.
It is recommended to open long positions not earlier than the Bulls overcome the moving average line with the target of 1.1414. The trend in the instrument in this case change to ascending.
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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