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Old 07-06-2019, 10:51
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Default Re: Tifia Daily Market Analytics

EUR/USD: Current Dynamics

Last Thursday, the ECB, as is well known, kept its monetary policy unchanged, leaving key interest rates unchanged.
During the press conference, ECB President Mario Draghi said that the ECB is “ready to act and use all the tools at its disposal”, hinting that the bank is ready to lower rates or take other measures if necessary.
Nevertheless, the EUR / USD pair rose, and the euro peaked from April 17 after the ECB meeting.
Many economists believe that if the Fed starts to soften the policy, the ECB will probably do the same. Probably already in July, the ECB will announce a rate cut, if the Fed also softens the policy.
On Friday, the euro and the EUR / USD pair are falling, and the dollar strengthens on the eve of the publication (at 12:30 GMT) of data from the US labor market. According to the forecast, in May, 180,000 new jobs were created in the American economy, while unemployment remained at 3.6%. If the data turns out to be weaker than the predicted values, then the dollar may briefly, but drop sharply.
During this period, a surge in volatility is expected. In the event of a breakdown of the short-term support level of 1.1220 (EMA200 on the 1-hour chart), EUR / USD will return to a bearish trend. The first signal for this will be the breakdown of the short-term support level of 1.1258 (ЕМА200 on the 15-minute chart, ЕМА50 on the 1-hour chart) with targets located at the support levels of 1.1125, 1.1100, 1.1000.
Below the key resistance levels of 1.1285 (Fibonacci level 23.6% of the correction to the fall from the level of 1.3900, which began in May 2014), 1.1310 (EMA144), 1.1365 (EMA200 on the daily chart) the bearish EUR / USD trend prevails.

Support Levels: 1.1258, 1.1220, 1.1180, 1.1125, 1.1100, 1.1000
Resistance Levels: 1.1285, 1.1310, 1.1365

Trading Recommendations

Sell Stop 1.1250. Stop Loss 1.1290. Take-Profit 1.1220, 1.1180, 1.1125, 1.1100, 1.1000
Buy Stop 1.1290. Stop Loss 1.1250. Take-Profit 1.1310, 1.1365

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