EUR / USD. January 9. The trading system. "Regression Channels". "Shutdown" in the US continues, the emergency is not yet

4-hour timeframe


Technical details:

The senior linear regression channel: direction - down.

The younger linear regression channel: direction - up.

Moving average (20; smoothed) - up.

CCI: 90.0234

The EUR / USD currency pair has corrected and almost completed the moving average line, and today it has resumed its upward movement. True, Murray's level of "8/8" has not yet been worked out, and above it, it will be very difficult for the instrument to consolidate, since there are few fundamental grounds for further growth in the euro currency. Thus, in the near future, we expect one of two options to be fulfilled. Either the pair will overcome Murray's level of "8/8" and then we can talk about a full-fledged uptrend, or the pair will go below the moving average and remain within the side channel with a slight upward slope. Today in the euro zone, the publication of the unemployment rate for November is scheduled, and in the evening, the minutes of the last Fed meeting will be published. The unemployment rate is unlikely to coincide with the forecast value of 8.1%, and the Fed's protocols are more formal and rarely contain new and interesting information. Thus, traders today are unlikely to react to macroeconomic events. The nightly appeal of Donald Trump to the nation has so far not caused a special reaction. The suspension of the work of the US government has been compiled for almost 20 days, and the reason is Trump's desire to build a wall on the border with Mexico and the Democratic Party's refusal to support this initiative.

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 has resumed its upward movement. Therefore, long positions with a view to 1.1475 are again relevant. However, above this level, the pair will be difficult to consolidate. Therefore, you need to be ready to turn in this area.

Short positions are recommended to be considered not earlier than traversing the moving average. In this case, the instrument may begin to decline to the level of 1.1353.

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 -