- summary:
- EURUSD is trying to find the trend amid the US -Chinese talks and positions of Trump, checking the technical analysis of Eurusd today.
Investors pay close attention to the discussions of the United States of China in Switzerland on Saturday. In addition, this trade war between Washington and Beijing is the main driver of the global economic growth reviews, given the cost -to -work competitive advantage.
Although the US index today reflects quickly as it is trading near 100.45 at the time of writing this report, the index was hitting near the highest monthly level of 100.86 earlier today. This is a response to waiting for discussions of the United States of China.
Eurusd technical levels
According to direct graphic drawing, Eurusd tried several times to break the main support line at $ 1.12258, but it was very difficult. This has caused the unlike spouses and trade now trading about $ 1.1250. This upward movement may push EURUSD to reach the main resistance level at 61.8 % of Fibonacci’s spread at $ 1.13083. Any outbreak of this level can lead to $ 1.1335 and 1.1379 dollars.
On the landmark, if Eurusd is not able to close a day over $ 1.12258, this will confirm the declining direction to reach $ 1.11957.
This graph is on the time frame for 4 hours.
President Donald Trump surprised the market with the participation of social media, which hinted at 80 % tax on goods from China, causing a negative impact on the market. Future S&P 500 gains from 0.4 % increased to only 0.10 % after this post.
Despite the uncertainty in the post, investors and the market are still wondering whether this tax war will continue for a long time, or whether the current tax of 145 % may decrease to 80 %.
See too
The main resistance and support levels in the daily time frame:
- Support 1: 1.09224
- Support 2: 1.07348
- Axial point in: 1.12261
- Resistance 1: 1.15298
- Resistance 2: 1.17174
Be careful at the end of the week:
The USA talks will be held this week, on Saturday and Sunday, which means that the result of this conversation will be reflected in the market on Monday. This may cause a price gap while opening the market. Especially for the United States.
