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THE EUR/USD. 20 Feb. The results of the day. The FOMC minutes are unlikely to give the market new information

RSS feed for Forex Review 20.02.2019 at 15:49

Daily analytical reviews of the Forex market

4-hour timeframe

the Amplitude of the last 5 days (high-low): 82p – 82p – 72p – 45p – 82p.

the Average amplitude over the last 5 days: 73p (69p).

the EUR/USD pair on Wednesday, February 20, continues inactive trades. Yesterday saw some volatile, which culminated in the passage of 82 points during the day, but today the market activity decreased again. Obviously, because of the complete lack of any macroeconomic reports in the European Union and the United States. Thus, the Euro is hardly to creep up. Tonight will be the publication of the minutes of the last fed meeting. We believe that any important information from this Protocol will not be able to draw. If the fed was thinking would be the termination of the reduction of its balance, it would have been known. Smoke without fire, and murder will not hide. Therefore, we believe that any market reaction to the evening publication of minutes will not. However, we need to acknowledge that 5% chance of surprise is always there. Therefore, to ignore this fundamental event is still not worth it. If the information that the fed is going to stop the transfer of assets from own accounts in open market is correct, it can create pressure on the American currency, as it will be the second sign of the slowing US economy and the willingness of the fed to end the rate tightening of monetary policy. From a technical point of view, "Golden cross" is weak, and the resistance 1,1345 had not been overcome. So longs can be considered only in small lots. The overcoming of the Ichimoku cloud will strengthen the buy signal.

Trading recommendations:

the EUR/USD Pair tested the level 1,1345. If this target is overcome, the upward movement will continue in order 1,1398 and this goal can be buy long. A reversal of the MACD indicator down to indicate the beginning of a downward correction.

sell Orders will be actual not earlier the price is fixed below the critical line, but even in this case, the potential drop of the pair below 1,1250 very small.

in Addition to the technical picture should also consider the fundamental reports and time of their release.

trading recommendations:

Ichimoku:

Tenkan-sen – red line.

the Kijun-sen – blue line.

the Senkou span a – light brown dotted line.

the Senkou span B – light purple dotted line.

the Chinkou span – green line.

the Indicator Bollinger bands:

3 yellow lines.

MACD:

the Red line and the histogram with white bars in the indicators ' window.The material has been provided by InstaForex company - www.instaforex.com