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EUR / USD. December 28th. The trading system. "Regression Channels". The pair again crept up to the level of 1.1470

4-hour timeframe

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Technical details:

The senior linear regression channel: direction - down.

The younger linear regression channel: direction - up.

Moving average (20; smoothed) - up.

CCI: 110.3296

The EUR / USD currency pair resumed its upward movement on Friday, December 28, and again came close to Murray's level of "8/8" - 1.1470, around which a downward reversal could occur. On the last trading day of the week, the calendar of macroeconomic events is still empty. No important information is expected from either Europe or the States. And not surprisingly, the parliamentarians have long been on vacation. It is rather surprising to see the euro currency strengthening in today's trading, but the market, as we have said, is "sensitive". This means that not only any more or less significant news can have a strong influence on the movement of the pair, but also the actions of a major player can lead to an avalanche effect. About 1.1470, without any understatement, the further fate of the euro in the coming days and even weeks will be decided. If the attempt to overcome this level (already the third) fails, the downward slope of the instrument will continue, and the pair may soon again fall to the area of 1.1300. Of course, it will not hurt any fundamental information, which is simply not available on New Year's Eve. In general, the pair continues to be in the "wide" flat, so Heikin Ashi continues to signal frequent changes in direction.

Nearest support levels:

S1 - 1.1444

S2 - 1,1414

S3 - 1.1383

Nearest resistance levels:

R1 - 1.1475

R2 - 1.1505

R3 - 1.1536

Trading recommendations:

The EUR / USD currency pair continues to change the direction of movement. At the moment, long-term positions are again relevant with targets 1.1475 and 1.1505. A reversal of the Heikin Ashi indicator down will indicate a round of local correction.

Orders for sale can be opened in small lots with the goal of 1.1353 if the pair manages to re-consolidate below the moving average. However, in conditions of "wide flat", the pair often changes the direction of movement, which does not mean a change of trend.

In addition to the technical picture, you should also consider the fundamental data and the time of their release.

Explanations for illustrations:

The senior linear regression channel is the blue lines of the unidirectional movement.

The younger 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.

Heikin Ashi is an indicator that colors bars in blue or purple.

The material has been provided by InstaForex Company - www.instaforex.com