For the last trading day, the euro / dollar currency pair showed a relatively low volatility of 42 points, but still having an attempt to break the newly formed cluster. From the point of view of technical analysis, we had a move towards a local maximum on May 1, 1.1264, where the quotation felt a periodic resistance. As a result, it slowed down the movement and formed a cluster in the region of 1.1235, tracing the V-shaped oscillation for a while. The news and news background did not have any statistics in itself, but there was a speech by the head of the Federal Reserve Bank of Boston, Erik Rosengren, to which the market responded. In the words of the head of the FBI, they revealed a rather clear position in which there was a message that they would not reduce the interest rate until there was more complete information about the economic situation in connection with the application of import duties.
Today, in terms of the economic calendar, we have statistics on the European Union, where everything is not as good as we would like. Industrial production in March (g / g) continues to decline to -0.8%, which puts pressure on the single currency.
Further development
Analyzing the current trading chart, we see that the amplitude fluctuation within the value of 1.1235 persists, where traders occupy a waiting position and stretch from orders. The primary trading idea is in the form of a decline in the euro, where traders aim at the values of 1.1180 due to the return of quotes. The estimated start is below 1.1220 (clear fixation). Insurance in case of stagnation looks like an advance stretching order above the local maximum on May 1, 1.1264, where the perspective move is located at 1.13000.
Indicator Analysis
Analyzing a different sector of timeframes (TF ), we see that the short-term perspective has changed the upward interest to the descending one, but it should be understood that the price stagnates and the indicators are volatile. Intraday and mid-term prospects still maintain an upward interest.
Weekly volatility / Measurement of volatility: Month; Quarter; Year
Measurement of volatility reflects the average daily fluctuation, based on monthly / quarterly / year.
(May 14 was based on the time of publication of the article)
The current time volatility is 23 points. In case of breakdown of stagnation, volatility may increase, reaching the average daily rate.
Key levels
Zones of resistance: 1.1300 **; 1.1440; 1.1550; 1.1650 *; 1.1720 **; 1.1850 **; 1.2100
Support areas: 1.1180; 1.1080 *; 1.1000 ***; 1,0850 **
* Periodic level
** Range Level
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