Current trend
Yesterday the pair continued falling.
The Euro was under pressure after some statements from the ECB official, who insisted that more measures are necessary to stimulate inflation growth, which made markets think that the QE program for the eurozone is going to be expanded.
The USD, on the other hand, was supported yesterday by strong macroeconomic data on the NAHB Housing Market Index that grew to 64 points indicating a growth in the housing sector in the US.
Today attention needs to be paid to September data on Housing Starts and Building Permits from the US. There will also be few speeches from members of the Fed, as well as from Fed Chair Janet Yellen.
Support and resistance
On the 4-hour chart, the price rebounded from the bottom MA of Bollinger Bands and is now growing.
MACD, on the other hand, indicates a fall continuation as its histogram remains in the negative zone and significantly lower its signal line.
Support levels: 1.1310, 1.1145.
Resistance levels: 1.1485.
Trading tips
Long positions can be opened from the level of 1.1395 with the target at 1.1460 and stop-loss at 1.1360.
Short positions can be opened from the level of 1.1280 with the target at 1.1215 and stop-loss at 1.1315.
Yesterday the pair continued falling.
The Euro was under pressure after some statements from the ECB official, who insisted that more measures are necessary to stimulate inflation growth, which made markets think that the QE program for the eurozone is going to be expanded.
The USD, on the other hand, was supported yesterday by strong macroeconomic data on the NAHB Housing Market Index that grew to 64 points indicating a growth in the housing sector in the US.
Today attention needs to be paid to September data on Housing Starts and Building Permits from the US. There will also be few speeches from members of the Fed, as well as from Fed Chair Janet Yellen.
Support and resistance
On the 4-hour chart, the price rebounded from the bottom MA of Bollinger Bands and is now growing.
MACD, on the other hand, indicates a fall continuation as its histogram remains in the negative zone and significantly lower its signal line.
Support levels: 1.1310, 1.1145.
Resistance levels: 1.1485.
Trading tips
Long positions can be opened from the level of 1.1395 with the target at 1.1460 and stop-loss at 1.1360.
Short positions can be opened from the level of 1.1280 with the target at 1.1215 and stop-loss at 1.1315.