18, April 2014

EUR/USD (a 4-hour chart)

EUR/USD (a 4-hour chart)

General Overview

The euro/dollar again spent the trading in a side corridor and closed at opening prices. Supportive and disappointing became the news from the Euro zone, still pointed to the payments balance current account surplus high level and core inflation confirmation at a smaller level than it was previously determined.

It is unlikely that the pair will continue to grow up. We should expect a weak activity because investors are preparing to Easter holidays.

The first support is 1.3860, the next one is 1.3760. The first resistance is 1.3900, the next one is 1.3950.

Trading Recommendations

The trading is still above the strong support level 1.3800, the volumes are decreasing.

Another 1.3800 retest is more likely to be followed by the price upwards rebound. The main targets remain unchanged: 1.3900, 1.3950