The growth of the single European currency slowed down near a strong resistance level of 1.50

The growth of the single European currency continued in the middle of the first trading day before the intended purpose of 1.4980 was perfected. Already in the afternoon, upward movement has slowed down near a strong resistance level is 1.5000/20, followed by a consolidation in the range of 1.4960-1.5020, which is still going …


Now look at the indicators:

Current price level is above the moving averages with periods of 89, 144, 55 and 34, which are dense near the strong levels of support 1.4870/50 and 1.4830/10.

The MACD histogram is located in the positive zone and above its signal line, but began to decline very slowly and thus gives a signal that the correction could continue.

Stochastic oscillator formed a similar signal as the% K line crossed the line% D top-down and start to fall below it.

Therefore, as a confirmation that the correction is likely to worsen, we can only wait for the breakdown level of support 1.4960/50, which could open the path to levels of 1.4900 and 1.4870/50.

At the same time it must be remembered that the aggressive buyers of the euro can return to the market if they are punctured by a local maximum of 1.5060.

Resistance levels: 1.5000/20, 1.5060, 1.5100, 1.5120, 1.5150, 1.5170, 1.5200

Current Price: 1.4970

Support levels: 1.4960/50, 1.4920/00, 1.4870, 1.4850/40, 1.4815, 1.4800