- Summary:
- EURUSD is trying to find the direction amid US-China conversations and Trump posts, check out technical analysis for EURUSD today.
Investors are paying attention to US-China trade discussions in Switzerland on Saturday. In addition, the trade war between Washington and Beijing is a major mover for descending changes in global economic growth, which has been given the advantage of making China cost.
While the US index today is fast upside down as it traces near 100.45 at the time of writing, however, the index is hitting near the monthly high of 100.86 earlier today. And this is in response to the wait for US-China trade discussions.
Eurusd technical levels
According to the live chart, EURUSD has many times tried to break the main support line at $ 1.12258, but very difficult. This has led to the pair to reverse and trade today the trade of approximately $ 1.1250. This upward motion can push EURUSD to reach the main level of resistance to the 61.8 %fibonacci retracement at $ 1.13083. Any breakout above this level can lead to $ 1.1335 and then $ 1.1379.
On the bearish side, if EURUSD could not make a day -to -day -up to $ 1.12258, it would confirm the downward direction to reach $ 1.11957.
This chart is in the 4 -hour time frame.
President Donald Trump was surprised at the market of a social media post indicating an 80% tax on goods from China, which had a negative impact on the market. S&P 500 futures obtained dropped from a 0.4% increase to a 0.10% increase after this post.
Despite the uncertainty of the post, investors and markets still wonder if this tax war will last a long time, or if the current tax of 145% can be reduced to 80%.
See also
Basic levels of resistance and support in the day -to -day frame of time:
- Support 1: 1.09224
- Support 2: 1.07348
- Pivot Point to: 1.12261
- Resistance 1: 1.15298
- Resistance 2: 1.17174
Be careful for the weekend:
The waiting conversation with US-China will be held this weekend, on weekends, which means the outcome of this issue will be seen on the market on Monday. This may cause a price space while the market is open. Especially for the US.Dollar.
