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18 Apr 2014
EUR/USD is at 1.3815 motionless
FXStreet (Moscow) - EUR/USD didn’t wake up yet, snoring at 1.3815 at the moment; no catalysts on horizon.
Rising euro gives opportunity to sell
While the euro is sleeping, we may talk about its outlook. The single currency fans still don’t believe that Draghi and Co really could do something more than verbal intervention, thus, even another evidence of slowing inflationary pressure in the region was completely ignored by the market. Yesterday, we saw worse than expected German PPI (-0.3% vs +0.1% expected). If it goes like this, the ECB will have to step in with radical measures sooner rather than later. Thus, every move closer to 1.39-1.40 area may be another good opportunity to enter the market with shorts.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3829, with support below at 1.3794, 1.3774 and 1.3739, with resistance above at 1.3849, 1.3884, and 1.3904. Hourly Moving Averages are bearish, with the 200SMA at 1.3827 and the daily 20EMA bullish at 1.3808. Hourly RSI is bearish at 40.
Rising euro gives opportunity to sell
While the euro is sleeping, we may talk about its outlook. The single currency fans still don’t believe that Draghi and Co really could do something more than verbal intervention, thus, even another evidence of slowing inflationary pressure in the region was completely ignored by the market. Yesterday, we saw worse than expected German PPI (-0.3% vs +0.1% expected). If it goes like this, the ECB will have to step in with radical measures sooner rather than later. Thus, every move closer to 1.39-1.40 area may be another good opportunity to enter the market with shorts.
What are today’s key EUR/USD levels?
Today's central pivot point can be found at 1.3829, with support below at 1.3794, 1.3774 and 1.3739, with resistance above at 1.3849, 1.3884, and 1.3904. Hourly Moving Averages are bearish, with the 200SMA at 1.3827 and the daily 20EMA bullish at 1.3808. Hourly RSI is bearish at 40.