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Old 15-05-2014, 04:41
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VolkovYuriy VolkovYuriy is offline
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Join Date: Dec 2013
Posts: 343
Default re: FreshForex -

The market waits for new drivers


In the absence of publication of important macroeconomic statistics from the Eurozone - in the first half of the day the euro/dollar pair will experience consolidation near 37 figures. "Bulls" and "Bears" take a break before the GDP euro area report in the first quarter which is scheduled for today.
PPI index is an early signal of changes in inflation trends but only just strong deviations from the median of forecasts can cause severe market reaction to this event.

The support levels are 1.3660- 1.3680, and the resistance levels are 1.3740 - 1.3760.

MACD is pointing down, indicating the current downtrend movement rates.


Trading recommendations

EUR/USD continued to decline and broke through the support at 1.3720, having tested the level 1.3689.
As we approach the low at 1.3672 reached in early April "bearish" pressure slightly weaker. Therefore, despite the deteriorating prospects for the pair, "bulls" may regain control of the situation at the current levels, however, attempts to grow at this stage should be seen as an opportunity to open short positions at a better rate.
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