Online Forex broker
After a period of quietness, EUR/USD leaped up to the 1.1450 area, its highest levels in 2017. Tuesday's speech by European Central Bank President Mario Draghi has inspired the euro’s bulls. Draghi downplayed deflation risks and now traders are quite sure that the regulator is getting ready to start reducing its aggressive monetary stimulus later this year. The US dollar, on the contrary, was weakened by the market’s lack of belief in further Federal Reserve’s rate hikes this year.
In the European economic calendar, one will see the data of medium and low importance. The ECB monetary policy meeting accounts stand out as this document has potential to provide more insight into the regulator’s thinking. Apart from this, follow the US data releases as they might be the main short-term drivers of the pair.
Bullish trend in EUR/USD is in place: growth resumed after 5 weeks of consolidation. The pair’s ability to rise above 1.1300 is a serious bullish sign as it used to be a significant obstacle. The next significant levels on the upside are 1.1500 ahead of 1.1600. These levels limited the pair’s upside since the start of 2015. Analysts have started talking about the possibility of a bigger breakout for the euro as there won’t be much of resistance left if it pushes above 1.1700. Support has shifted up to 1.1300, 1.1265 and 1.1150. In our view, the best strategy is to look for the opportunities to buy the euro on its pullbacks to the downside. The main risks for the pair include surprisingly good data out of the US and hawkish comments from the Fed members.
The wave of ups and downs in the Forex market did not bypass the exotic currencies in 2018. Let’s look at how analysts predict the performance of those ones, which suffered the most during 2018 - the Brazilian real and Turkish lira.
The earnings season is in a full swing in America. It's time to trade stocks!
The news from Apple Inc has shocked the market last week.
The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...
USD/CHF remains weak across the board and stays strong with a bearish consolidation below the 200 SMA at H1 chart…
There's no any reversal pattern so far, so the market is likely going to test the nearest resistance area in the short term...
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
