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FxWirePro: EUR/USD Trade idea

  • EUR/USD has formed almost a triple top around 1.2300 and started to decline from that level. The pair was trading slightly weak on account of profit booking. The pair jumped till 1.2322 on Jan 17th 2018 and is currently trading around 1.22491.
     
  • Euro was trading lower after most ECB members expressed their concerns over its recent appreciation. ECB Vice President Vitor Constancio expressed concerns over Euro’s “sudden movement’ and also mentioned about slight decline in inflation. The greenback gained almost 160 pips from the 3 year low.
     
  • Technically, near term resistance is around 1.2600 (61.8% fibo) and any break above will take the pair to next level till 1.300/1.3550.
     
  • On the lower side, near term support is around 1.21650 (38.2%) and any break below will drag the pair down till 1.2130 (200- H EMA)/1.2090 (233- H MA). Intraday weakness only below 1.2000.               

It is good to buy on dips around 1.2165-70 with SL around 1.2090 for the TP of 1.2600/1.3000.

Resistance
 

R1-1.2300
 

R2 -1.2600
 

R3-1.3000
 

Support               
 

S1-1.2165
 

S2-1.2090
 

S3- 1.2000

 

 

 

 

 

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October 23 19:00 UTC Released

ARTrade Balance

Actual

314 %

Forecast

150 %

Previous

-1127 %

October 23 14:00 UTC Released

EZConsumer Confid. Flash

Actual

-2.7 %

Forecast

-3.2 %

Previous

-2.9 %

January 31 00:00 UTC 382977382977m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 382977382977m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 394797394797m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 382977382977m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 394797394797m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 382977382977m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 382977382977m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 382977382977m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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