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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 203273, member: 80239"] [HEADING=1][CENTER]EURUSD[/CENTER][/HEADING] [CENTER]The euro is in a state of uncertainly[/CENTER] [HR][/HR] [JUSTIFY][B]Current trend[/B] Since the end of November last year, this trading instrument has been moving within the sideways range of 1.1350–1.1230. Last week, the quotes made an unsuccessful attempt to consolidate above its upper border. The December Manufacturing PMI exerted pressure on the positions of the European currency. The indicator for the EU countries decreased from 58.4 to 58.0 points, and for Germany, it was at the previous level of 57.4 points, instead of the growth expected by analysts to 57.9 points. In general, Manufacturing PMI remains significant, but the introduction of additional restrictive measures may pose a serious threat to further positive dynamics if the European authorities decide to take them. The positions of the US dollar also do not look stable. The increase in the incidence of coronavirus infection in the United States did not cause an increase in quarantine but seriously impedes business conduct due to an acute shortage of personnel. Yesterday, the White House medical adviser Anthony Fauci once again warned citizens against a frivolous attitude towards the Omicron virus since its weakness is compensated by the scale of infections, leading to a surge in hospitalizations. Today in the US, December Markit Manufacturing PMI will be released. The indicator may decline from 58.3 to 57.8 points, putting pressure on the US currency. [B]Support and resistance[/B] If the price consolidates below 1.1350, the instrument will return to the sideways channel and continue to decline to the area of 1.1290 (Murrey [1/8]) and 1.1230 (Murrey [0/8]). Otherwise, the growth of quotations will continue to the levels of 1.1475 (Murrey [4/8]) and 1.1535 (Murrey [5/8]). The indicators do not give a single signal: Bollinger bands and Stochastic are horizontal, the MACD histogram narrows in the negative zone. Resistance levels: 1.1350, 1.1475, 1.1535 Support levels: 1.1290, 1.1230[/JUSTIFY] [ATTACH type="full"]19774[/ATTACH] [/QUOTE]
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