FX.co ★ Technical analysis and trading recommendations of the currency pair EUR / USD for July 21, 2017

The currency pair EUR / USD showed high volatility during the past day, mostly because of the speech of Mario Draghi, where he stated the need to maintain incentive programs in the eurozone and promised to return to the issue of their breakdown in the autumn. The pair has already reached an important resistance level of 1.1650, about a two-year high of 1.1713 by a global survey. It is possible to assume that in the very near future, the quotation will expect a periodic ceiling before itself, giving us attractive short positions in the market. In case of a coincidence of the forecast, it is possible to expect the formation of the reverse movement with the first coordinates of 1.1500 / 1.1440.

Key levels

Resistance - 1.1650; 1.1713 (maximum); 1.1850.

Support - 1,1650; 1.1440; 1.1300.

Signals

- Buying a pair is recommended after fixing the price above 1.1650, with the prospect of a move to 1.1700.

- Sale of a pair is recommended to be made at a price of 1.1610, with the prospect of a move to 1.1500 / 1.1440.

Note: Forecasts are not a direct guide to action!