View Single Post
Old 12-07-2019, 11:50
TifiaFX's Avatar
TifiaFX TifiaFX is offline
Level V Lasers Member
Join Date: Mar 2017
Posts: 662
Default Re: Tifia Daily Market Analytics

EUR/USD: Current Dynamics

Despite the rise during the Asian session, EUR / USD declines again at the beginning of the European session on Friday. The minutes of the June meeting of the European Central Bank published on Thursday showed that, due to low inflation, the Central Bank management is considering additional ways to stimulate the Eurozone economy. Judging by the protocols, the leadership of the Central Bank is preparing to reduce the key interest rate or restart the bond redemption program by 2.6 trillion euros.
At the same time, the dollar also remains under pressure after the speeches of Fed Chairman Powell in Congress on Wednesday and Thursday.
He hinted that the leadership of the Fed is mostly inclined to ease monetary policy. Powell reiterated that the Fed intends to "act in an appropriate manner to support economic growth".
Thus, the EUR / USD pair is in the grip of expectations of easing in the monetary policy of the Fed and the ECB. At the beginning of the European session, the EUR / USD pair is trading near the 1.1260 mark.
Long-term negative dynamics remains below the resistance level of 1.1350 (ЕМА200 on the daily chart).
A signal for sales with targets located at support levels of 1.1180 (June lows), 1.1125 (minimums of a year) will be a breakdown of the short-term support level of 1.1260 (ЕМА200 on a 1-hour chart).
In the alternative scenario and after the breakdown of the resistance level of 1.1285 (Fibonacci 23.6% of the correction to the fall from 1.3900, which began in May 2014), EUR / USD will move towards the key resistance level of 1.1350 (ЕМА200 on the daily chart) with an intermediate goal at resistance 1.1305 (EMA144 on the daily chart).
A more aggressive scenario involves the return of EUR / USD to the zone of resistance levels
1.1410 (monthly maximum), 1.1445.
In the current situation and below the resistance level of 1.1285, short positions are preferable.
Support Levels: 1.1260, 1.1195, 1.1180, 1.1125
Resistance Levels: 1.1285, 1.1305, 1.1350, 1.1410, 1.1445, 1.1510, 1.1600

Trading Recommendations

Sell Stop 1.1245. Stop Loss 1.1280. Take-Profit 1.1195, 1.1180, 1.1125
Buy Stop 1.1280. Stop Loss 1.1245. Take-Profit 1.1305, 1.1350, 1.1410, 1.1445

*) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website
Reply With Quote