EUR/USD: Quotes Moving In 1.1334-1.1388 Range
LiteForex Europe | Feb 26, 2015 06:41AM ET
Yesterday, on the 25th of February, EUR/USD quotes were moving in the range of 1.1334-1.1388. The European currency was growing during the day and reached a level of 1.1370 today.
The economic calendar provides plenty of releases on the 26th of February. The forecast for data on the unemployment rate in Germany that will be published before noon is quite upbeat. GFK consumer confidence index promises to grow and strengthen the euro. On the other hand, the consumer price indexes will be released in the USA. The basic CPI is expected to grow by 0.1% while the general CPI would equal –0.6%. Fundamental forecasts suggest growth of EUR/USD throughout the entire day.
Quotes are approaching the upper line of Bollinger bands (1.1385) on the H4 chart, but the pair is likely to go back down to 1.1346 or 1.1300 and then will continue an upward movement.
Support levels: 1.1346 (middle MA of Bollinger bands), 1.1300 (lower line of Bollinger bands) and 1.1280 (local minimum).
Resistance levels are the upper line of Bollinger bands at 1.1385 and local maximum at 1.1420.
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