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[QUOTE="Antony_NPBFX, post: 177209, member: 38727"] [size=5][b] EUR/USD: EUR is consolidating 24.02.2020 [/b][/size] Good afternoon, dear forum visitors! [url= https://www.tb.marketinstructor.com/?referer1=earnforex.com] NPBFX[/url] offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading. [b] Current trend [/b] EUR shows ambiguous dynamics against USD during today’s Asian session, correcting after an active growth of the instrument last Friday. The reason for the appearance of active uptrend, in addition to technical factors, was good data on the euro area's business activity for February. Markit Manufacturing PMI rose from 47.9 to 49.1 points with a forecast of a decline to 47.5 points. Markit Services PMI for the same period strengthened from 52.5 to 52.8 points, which also turned out to be better than market expectations. Composite Manufacturing PMI in February rose from 51.3 to 51.6 points with a forecast of 51 points. German data were positive as well. Markit Manufacturing PMI rose sharply from 45.3 to 47.8 points, with the forecast of decline to 44.8 points. Today, traders expect the publication of IFO statistics on business optimism in Germany for February. Otherwise, given the fairly meager economic calendar, a rather quiet start to the new week is expected. [b] Support and resistance [/b] Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is narrowing, reflecting the emergence of ambiguous dynamics of trading in the short term. MACD indicator is growing preserving a stable buy signal (located above the signal line). Stochastic is showing a more active growth being located in the middle of its area. The development of a full-fledged uptrend is possible in the short and/or ultra-short term. Resistance levels: 1.0862, 1.0900, 1.0924, 1.0940. Support levels: 1.0826, 1.0800, 1.0777, 1.0740. [img]http://businesspr-finance.com/wp-content/uploads/2020/02/eur-3.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2020/02/eur-4.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the breakout of 1.0862. Take profit – 1.0924 or 1.0940. Stop loss – 1.0826 or 1.0800. A breakdown of 1.0826 or 1.0800 may be a signal for new sales with target at 1.0740 or 1.0720. Stop loss – 1.0840 or 1.0862. Implementation time: 2-3 days. [b]Use more opportunities of the NPBFX analytical portal: economic calendar[/b] Be ready for any market changes through global events using the economic calendar on the NPBFX portal. The calendar contains all the most important events of the world economy and prognoses for them. In order to get free and unlimited access to the economic calendar and other useful instruments on the portal, you need to pass a one-time registration on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on EUR/USD and trade efficiently with [url=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex]NPBFX[/url]. [/QUOTE]
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