I would like to know where the EUR USD will go till the end of the week?
Claws&Horns Team, Analyst
Last week EUR/USD has reached the level of 1.1380, but then has been corrected to the middle MA of BB at 1.1140. The breakout of this level will allow the pair to go further down to the levels of 1.1000, 1.0850. Otherwise the price can return to the levels of 1.1380 and 1.1500.
Technical indicators are neutral. BB are directed horizontal. MACD histogram is at the zero line with almost no volumes. Stochastic lines have crossed and turned downwards.
This week the market will be affected by another FRS meeting, where the change of interest rate may or may no t be announced. The raise of the rates will most probably strengthen American currency. Moreover investors should pay attention to the May's CPI in US and eurozone as well as June’s ZEW indices.
It is recommended to open short trades below 1.1140 with targets at 1.1000 and 1.0850. Buy orders can be placed above 1.1250 with targets at 1.1380.