You are here: Home > articles > Forex > EUR/USD. April 8. Trading system “Regression Channels”. Calm trading will continue today
EUR/USD. April 8. Trading system “Regression Channels”. Calm trading will continue today
April 8, 2019 1:23 pmVideo
Latest News
- The euro did not understand the Fed’s signals May 3, 2024
- Analysis of GBP/USD pair on May 2nd. The final chord for the dollar May 2, 2024
- Analysis of EUR/USD pair on May 2nd. The market calmly responded to the FOMC meeting May 2, 2024
- Technical Analysis – GBPJPY returns to pre-intervention levels May 2, 2024
- JPY terrifies traders May 2, 2024
- Fed makes tough decision May 2, 2024
- USD/JPY: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- EUR/USD: Simple trading tips for novice traders on May 2nd (US session) May 2, 2024
- GBP/USD: trading plan for the US session on May 2nd (analysis of morning deals). The pound was pushed below 1.2521 May 2, 2024
- EUR/USD: trading plan for the US session on May 2nd (analysis of morning deals). Euro bought around 1.0700 May 2, 2024
- EUR/USD. May 2nd. US statistics disappoint once again May 2, 2024
- Technical Analysis – EURUSD capped by 20-day SMA as rebound falters May 2, 2024
- Forex forecast 05/02/2024: EUR/USD, USD/JPY and Gold from Sebastian Seliga May 2, 2024
- USD/JPY: trading tips for beginners for European session on May 2 May 2, 2024
- GBP/USD: trading tips for beginners for European session on May 2 May 2, 2024
- EUR/USD: trading tips for beginners for European session on May 2 May 2, 2024
- Market Comment – Dollar slides as Powell rules out rate hikes May 2, 2024
- RBA decision: will a rate hike be back on the table? – Preview May 2, 2024
- Video market update for May 02, 2024 May 2, 2024
4-hour timeframe
Technical details:
The higher linear regression channel: direction – down.
The lower linear regression channel: direction – down.
Moving average (20; smoothed) – down.
CCI: 46.1538
On Monday, April 8, the currency pair EUR/USD continues to be located below the moving average line, and the volatility remains quite low. By tradition, on Monday there will be practically no macroeconomic publications, which means that today the market’s low activity is likely to continue. In general, the most important question remains open for the euro currency paired with the US dollar – will the pair be able to overcome the level of 1.1200, which represents the lower boundary of a strong support area? If traders still manage to overcome it, the euro can almost go to a free fall. Over the past 3-4 months, it became clear that there are few buyers of the pair. Accordingly, for a strong strengthening of the euro currency, strong fundamental bases are needed, which are not present. There was a chance that due to the completion of the program of a systematic increase in the Fed’s interest rates, the US dollar would begin to feel pressure, but it was logical for traders to judge that the situation with the ECB is still worse. The European regulator is not even thinking about any tightening of monetary policy. Moreover, a new LTRO program has been launched, which is once again called upon to support the banking sector and the economy as a whole. From a technical point of view, short positions remain relevant until the pair is fixed above the moving average. It is recommended to be careful since the level of 1.1200 is quite strong.
Nearest support levels:
S1 – 1.1200
S2 – 1.1169
Nearest resistance levels:
R1 – 1.1230
R2 – 1.1261
R3 – 1.1292
Trading recommendations:
The currency pair EUR/USD may continue to move downwards. Thus, now it is still recommended to consider trading for a fall with the targets at 1.1200 and 1.1169, before the new reversal of Heiken Ashi’s indicator to the top.
It is recommended to open buy orders no earlier than traders overcome the moving average line with the targets at 1.1261 and 1.1292. In this case, the tendency for the instrument to change to bullish, and the euro will have a small chance of growth.
In addition to the technical picture should also take into account the fundamental data and the time of their release.
Explanations for illustrations:
The higher linear regression channel is the blue lines of the unidirectional movement.
The lower linear regression channel is the purple lines of the unidirectional movement.
CCI – blue line in the indicator window.
The moving average (20; smoothed) is the blue line on the price chart.
Murray levels – multi-colored horizontal stripes.
Heiken Ashi is an indicator that colors bars in blue or purple
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: