EURUSD
1.1315
Within the bigger channel
The market today is trading higher than 1.13s levels which is considered as the pivotal level between the coming day’s directions (the direction up To touch the higher band of the channel @ 1.17 or the lower band of the channel @ 1.09s!).
We are on neutral mode , and that driven by the uncertainty at the market on this week which is cause by the Fed coming meeting.
On a mid-term Horizon;
The market is consolidating the major drop of the pair’ prices which have accrued by the begging of the year (Discounting Fed rate hike expectations, & bond purchase program by ECB); we do expect the trading within shown trading channel between the upper and lower boundary (Generally speaking the range is between the levels of 1.17 & 1.08); with higher probability the breakout out phase would be on the downside to target the levels of 1.07 / 1.05. However, In case the market penetrated the higher boundary of the rising channel then the target will be toward 1.20 & 1.22.
On a longer-Term View:
Economic factors represent a major pressure for Eur to drop against the US dollar on the longer-term horizon, we highly expected a rate below the parity (Below 1.0000 levels) to test a long Term major support at 0.98 & 0.95 respectively .
Daily Trend: Up
Weekly Trend: Down
| Support | Resistence | |
| Level 1 | 1.1250 | 1.1330 |
| Level 2 | 1.1130 | 1.1467 |
| Level 3 | 1.1020 | 1.1597 |
