4-hour timeframe
Technical data:
The senior channel of linear regression: direction - down.
The younger channel of linear regression: the direction is up.
Moving average (20; flattened) - sideways.
СCI: 78.8790
The currency pair EUR / USD on September 13 tries to resume the upward movement and at the end of yesterday, even added a little to the value. However, today, many things will be placed on the shelves. The fact is that today will be announced the results of the ECB meeting, as well as a press conference of ECB representatives on monetary policy. As we already wrote earlier, it is unlikely that unexpected decisions will be made at this meeting. Most likely, the monetary policy will remain unchanged, as well as the level of the key rate. Thus, the only thing that can affect the course of the auction is a speech by Mario Draghi. In addition, the Bank of England will also familiarize the markets with the results of the meeting today, although no important changes are expected there. In the second half of the day in the US will be published inflation for August. According to experts' forecasts, in annual terms, the consumer price index will slow down the acceleration to 2.8%. On the one hand, this is a small negative, on the other - until recently the Fed failed to disperse inflation to 2%. Thus, we believe that the value of 2.8% y / y will not cause disappointment for investors. Thus, the focus will be today on the press conference of the ECB. From a technical point of view, the pair has big problems with surmounting the level of Murray "7/8", and to overcome it today, strong information from the eurozone will be required.
Nearest support levels:
S1 - 1.1597
S2 - 1.1536
S3 - 1.1475
Nearest resistance levels:
R1 = 1.1658
R2 = 1.1719
R3 = 1.1780
Trading recommendations:
The currency pair EUR / USD was fixed above the moving average line. Thus, today long positions will be relevant with a target of 1.1658, and in case of overcoming the first target with a target of 1.1719. It should be taken into account that during the release of important news, there may be bursts of volatility and sharp reversals of the pair.
It is recommended to open sell orders after fixing the price below the Moving and Murray levels "6/8". In this case, the bears will once again get a chance to develop a downtrend with the first target level of Murray "5/8" - 1.1536.
In addition to the technical picture, one should also take into account the fundamental data and the time of their release.
Explanations for illustrations:
The upper channel of linear regression is the blue lines of unidirectional motion.
The lowest linear regression channel is the violet lines of unidirectional motion.
CCI - the blue line in the indicator window.
Moving average (20; smoothed) - the blue line on the price chart.
Levels of Murray - multi-colored horizontal stripes.
Heikin Ashi is an indicator that color bars in blue or purple.
