EUR/USD is waiting the FED. statement tomorrow!

Eur/Usd 17th March, 2015

EUR/USD confirmed our expectations and answered our question in a previous post with a direct fall from 1.1172 to 1.0459 during the first 2 weeks of March, 2015.

ECB started its QE (~to buy a total of €60 billion a month in assets including government bonds, debt securities issued by European institutions and private-sector bonds). This directly means a weaker euro. The EUR/USD found a minor support at 1.0459 few days ago and it tested it once, we are expecting another test for this support level before trying any major resistance level. Federal Reserve System (Central bank of America) will release its monthly statement tomorrow 18th, March 2015 and every one is waiting any clue for the timing dilemma of the american interest rate hike. With all these elements on the table, I am not feeling comfortable to trade this pair the next few hours especially with Greece’s smoke is everywhere in the air.

The EUR/USD has the following major resistance and support levels:

  • RESISTANCE: 1.0755
  • SUPPORT: 1.0459

Breaking these levels in any direction will take us higher or lower.
My Daily SELL advice (30 pips stop loss applied):

  • Sell at: 1.0455 – Take Profit 1.0400 (55 pips profits)
  • Sell at: 1.0755 – Take Profit 1.0725 (30 pips profits)

QUICK HINT: EURUSD is still dangerous pair, I recommend using very low leverage and do not risk more than 2% of your total equity in it.

This signal is valid during trading week: 17th-20th March 2015

EUR USD

EUR/USD is starting March, 2015 with a fall?

EUR USD

EURUSD had a very bad week with the fall from 1.1400 to 1.1172. Everyone was expecting much more bullish move to this pair after the long journey from May, 2014 down to the lowest level from years. Mr. Draghi said the ECB will buy a total of €60 billion a month in assets including government bonds, debt securities issued by European institutions and private-sector bonds. The purchases of government bonds and those issued by European institutions such as the European Investment Bank will start in March and are intended to run through to September 2016. Overall, the EURUSD still has another fall journey till it finds support and the economy starts to perform as targeted by ECB.

The EUR USD has the following major resistance and support levels:

  • RESISTANCE: 1.1450
  • SUPPORT: 1.1085

Breaking these levels in any direction will take us higher or lower.
My Daily SELL advice (30 pips stop loss applied):

  • Sell at: 1.1450 – Take Profit 1.1300 (150 pips profits)
  • Sell at: 1.1175 – Take Profit 1.1075 (100 pips profits)

QUICK HINT: EURUSD is dangerous pair, I recommend using very low leverage and do not risk more than 2% of your total equity in it.

This signal is valid from: 1st-3rd March 2015