EUR / USD pair
Last Friday, the euro grew by 40 points. It adds another 18 points in today's Asian session, which is probably related to the expectations of the appointment of the head of the Central Bank of Germany Jens Weidmann, a supporter of hawkish policy for the post of ECB head. It was assumed that the former head of the Finnish Central Bank Erkki Liikanen will be selected for this post at the EU summit last week, featuring a balanced approach to monetary policy. However, he is already 68 years old and Germany has entered into a more decisive argument. he final choice will take place at the EU summit on June 20. As a result, the ECB meeting is expected to be neutral on Thursday.
Also on Friday, US President Trump unexpectedly imposed import duties of 5% on Mexican goods, which was a shock to the markets. Investors lost the sense of the dollar as a safe haven currency, which became the same as trade and technology war with China.
At the moment, the price on the daily scale chart is breaking through the resistance of the MACD line while the Marlin oscillator signal line has entered the growth zone. The immediate goal of the euro is the Fibonacci level of 100.0% at a price of 1.1216, which also corresponds to the top on May 27. Overcoming the level will allow the price to grow even higher towards the line of the price channel in the area of 1.1253 and it is possible that the price may go even higher towards the maximum of April 17 at the level of 1.1324.
On the four-hour chart, the price went above the line of balance and the MACD. The Marlin oscillator indicates an energetic growth of the current and the nearest few bars on the trend.
