EUR/USD
Investors were in a somewhat embarrassed state on Tuesday - on the one hand, the media reported on the "intensive negotiations" of the US and China at the ministerial level, which added interest to risk, on the other hand, positive economic data on the US prompted purchases of the dollar. Sales of new housing reached 733 thousand in October against the forecast of 709 thousand, the figure for September was revised to increase from 701 thousand to 733 thousand, the trade balance for October was -66.5 billion dollars against expectations of -71.3 billion, the September price index for at home added 0.6% after August growth of 0.2%. Only the Conference Board consumer sentiment index for the current month slightly fell: 125.3 from 126.1 previously. As a result, the euro grew by 6 points.
The technical support of the euro was provided by the MACD line, the price could not go under it. The Marlin oscillator stopped short-term in decline.
On the four-hour chart, the price returned above the MACD line, the Marlin oscillator is moving up, discharging (according to the main scenario) before a further decline.
Today, another batch of positive indicators is expected in the United States, which can provide greater confidence to the dollar. Personal incomes and expenses of consumers in October may show an increase of 0.3% for each indicator.
The MACD line on the daily chart has slightly decreased, now the signal level is 1.1010, overcoming it opens the target 1.0985. Consolidation at 1.0985 opens the target at 1.0925.
The material has been provided by InstaForex Company - www.instaforex.com