EUR / USD: general analysis
The single European currency on the opening of trading on the foreign exchange
the market traded slightly higher against the US dollar at around
1.0843. After the Fed last week did not announce the exact timing of increase
interest rates, the EUR / USD pair is no longer actively decline. but
upward movement, most likely, is back, and the global trend will continue downward.
The difference in monetary policy between the US and the EU will continue to provide
pressure on the euro. The ECB continues to use a printed cash machine
fight deflation: in December as part of the program was TLTRO
granted loans amounting to 97.8 billion. Euro. According to preliminary estimates,
the total amount of injections into the real economy will be about 400 billion.
Today, special attention should be paid to the speech head
ECB Mario Dragi, although it is unlikely he will be able to somehow reassure investors. Besides
of projected decrease in the index of consumer confidence in the euro area, which
also weaken the European currency.
Support and resistance levels
The immediate level of resistance is a mark 1.0864
(5/8 Murray level). The level of support is at around 1.0742
(4/8 Murray level).
It is recommended to open short positions after the breakdown
the level of 1.0742 with protective orders near 1.0780 and
the purpose of 1.0620.
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