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The trade analysis and forecast of the euro dollar (EUR / USD) on 3/16/2016
Overview of the currency pair euro dollar
The euro was unable to take advantage of the publication of favorable European data. The January volume prom. production in the region recorded a 2.8% increase, after the December decline by 1.3%. expected an increase of 0.9%. This result is the highest since 2009. The significant increase in reflected and monthly index: + 2.1%, against expectations of + 1.5% and December's decline of 1%. A couple impacted the return of interest in the USD in anticipation of the decision of the American regulator.
Bidding took place in the area of 1.1150, but then quotes slowly headed south. Only at the end of a couple of trades grew.
In the area of 1.1050 is the first support below 1.0925. In the area of 1.1150 is the first resistance, above - 1.1260.
A buy signal is strong and confirmed. Price is above the Ichimoku cloud and Chinkou-Span is below the price level. Tenkan-sen shows the downward movement and the Kijun-sen - the horizontal. The urgency of the upward movement will continue as long as the price is above the Ichimoku cloud.
The MACD histogram is in the positive zone. The price is rising.
To bearish momentum could develop, required the breakdown of support at 1.1050 to 1.0925 Target.