MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Technical analysis and trading recommendation for EUR/USD for April 23, 2015

In April 2015, the DG ECFIN flash estimate of the consumer confidence indicator decreased in both the EU (by 0.4 points to -2.2) and the euro area (by 0.9 points to -4.6) compared to March.

Today, the euro macro calendar offered a data-heavy day. The French and German's flash manufacturing PMI, services PMI are due for release. Data on the Spanish unemployment rate, flash manufacturing PMI, and flash services PMI are likely to be published too. The French flash manufacturing PMI data printed negative readings for February and March. But we can observe an improvement in the monthly basis. The Spanish unemployment rate showed a kind of improvement for 3 consecutive quarters. Last quarter was muted at 23.7%. The Germany flash manufacturing PMI readings were positive in March. The Germany and France economies are the largest in the eurozone. The Germany flash services are muted at 55.3 in March. This time, we are expecting an uptick above 55.5. The euro flash manufacturing PMI has been disappointed or muted for six months but services PMI showed an improvement in February and March. In April, we expect it to move above 54.5. Data on the US employment claims can disappoint again, the flash manufacturing PMI and new home sales data can show strengthing of the economy.

Technical view:

The pair extended losses for the third consecutive day. The euro is trading at 1.0706 at Thursday's Asian session, compared to 1.0725 Wednesday's closing price. Ahead of today's data, the euro is trading lower against USD. The price managed to hold the ascending trend line in the hourly chart. In the one-hour chart, lower lows and lower highs formation has been forming. The crucial bull-support zone is found between 1.0700 and 1.0690. In the four-hour chart, 200Dsma is found at 1.0690. 50Dsma is seen at 1.0690 in the h1 chart. Below the given support zone, the pair can extend its fall towards 1.0685, the fib level of 50.0, and the recent low of 1.0660. The real panic will be triggered below 1.0660 with an immediate target at 1.0625 and at 1.0600, 1.0585, and 1.0570 later. Intraday resistance is found at 1.0740 21hrsma and 1.0760 20Dsma. Buying will emerge above 1.0770 with small targets at 1.0800, 1.0820, and 1.0845. Aggressive buying is not available at the current levels. Fundamental and technical aspects favor bears. Each spike leads to new sell trades.

EURUSDH1.png

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