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Technical Analysis
Video | Market Technical | Solid ECN
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[QUOTE="SOLIDECN, post: 203562, member: 80239"] [HEADING=1][JUSTIFY]EURUSD Technical Analysis[/JUSTIFY][/HEADING] [HR][/HR] [JUSTIFY][B]Current trend[/B] The European currency shows moderate growth against the US dollar during the Asian session, continuing the development of flat dynamics in the short term. The day before, EUR/USD showed a rather active decline, which was caused by a short-term strengthening of the American currency, which is supported by the expectations of an imminent increase in interest rates by the US Fed. Last week, the regulator released the minutes of its last meeting, which demonstrate "hawkish" rhetoric. Representatives of the department noted the negative effect of the continuing growth in consumer inflation, as well as the still tense situation on the labor market. In 2022, the regulator may increase the rate 3 or more times, and the first adjustment may occur as early as March, subject to the acceleration of the curtailment of the quantitative easing (QE) program. Monday's macroeconomic statistics from the eurozone provided little support to the euro. Sentix Investor Confidence in January rose from 13.5 to 14.9 points against the forecast of a reduction to 12 points. The Unemployment Rate in the region in November, as expected, decreased from 7.3% to 7.2%. Support and resistance Bollinger Bands in D1 chart demonstrate flat dynamics. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD indicator is growing preserving a weak buy signal (located above the signal line). Stochastic keeps its upward direction but is rapidly approaching its highs, which reflects the risks of overbought EUR in the ultra-short term. Resistance levels: 1.1363, 1.1400, 1.1422, 1.1460. Support levels: 1.1329, 1.1300, 1.1255, 1.1220.[/JUSTIFY] [MEDIA=youtube]1vFXr7DnDkM[/MEDIA] [/QUOTE]
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