The economic support measures promised by different governments have not been able to close off the negatives in the markets. The dollar swap agreement with the major world currencies was launched in September 2008 after the bankruptcy of Lehman Brothers and the collapse of world stock markets. This mechanism was actively used until 2015. However, the large-scale easing of the US Federal Reserve's policy, its plans to repurchase 700 billion dollars of assets and joint actions of the world's largest central banks to provide dollar liquidity have not calmed investors and markets continue to sink.
EUR/USD, 30 min
Pivot - 1.0960
Analysis:
Provided that the currency pair is traded below 1.0930, follow the recommendations below:
The timeframe: 30 min
Recommendation: short position
Entry point: 1.0930
Take Profit 1: 1. 0865
Take Profit 2: 1. 0830
Alternative scenario:
In case of breakdown of the level 1.0960, follow the recommendations below:
The timeframe: 30 min
Recommendation: long position
Entry point: 1.0960
Take Profit 1: 1.1095
Take Profit 2: 1.1135
Comment:
As long as the resistance level 1.0960 is not broken-down, the risk of price approaching the level 1.0865 remains high.
Key levels:
Resistance
Support
1.1015
1.0865
1.0980
1.0830
1.0960
1.0800
EUR/USD, D1
Pivot: 1.1010
Analysis:
While the price is below 1. 1230, follow the recommendations below:
Time frame: D1
Recommendation: short position
Entry point: 1.1010
Take Profit 1: 1.0880
Take Profit 2: 1. 0775
Alternative scenario:
If the level 1. 1230 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: long position
Entry point: 1.1230
Take Profit 1: 1.1330
Take Profit 2: 1.495
Comment:
RSI shows a bearish mood and indicates a further decrease. EUR/USD might fall by 132-237 pips.
Key levels:
Resistance
Support
1.1490
1.0880
1.1330
1.0775
1.1230
1.0670
We also advise you to pay attention to the following currency pairs for intra-day trading:
NZD/USD – sell below 0.5580 with 0.5526 and 0.5512 as Take Profit targets. Alternative scenario - if the level of 0.5580 is broken-down, you should consider buying with the targets 0.5604 and 0.5618 as Take Profit. GBP/USD - short positions below 1.1660 with 1. 1440 and 1.1310 targets as Take Profit. Alternative scenario - if the level of 1.1660 is broken-down, buy with the targets 1.1750 and 1.1875 as Take Profit. USD/CHF - buy above 0.9650 with 0.9750 and 0.9800 targets as Take Profit. Alternative scenario - if the level 0.9650 is broken-down, sell with the TP 0.9600 and 0.9560.
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