ये भी देखें
The macroeconomic reports during the last trading day included the S&P/CS Composite - 20 housing price index for February in the United States, where the indicator rose from 11.1% to 11.9%, with an expectation of 11.7%.
Based on the fact that the economic calendar was almost empty with the exception of the housing price index, the market was not very active.
Today, the focus of the market participants will be on the results of the two-day meeting of the Federal Reserve System (Fed), where the key rate will remain stationary, as in principle, and the parameters of monetary policy.
The only thing that may interest speculators is the comments of the head of the Federal Reserve Jerome Powell, as well as the economic recovery.
The EUR/USD currency pair showed low activity during the last trading period, focusing the interest of traders relative to the amplitude of 1.2056/1.2092. As for the market cycles, since April 26, there has been a downward spiral from the local maximum of 1.2116, which led to a return of the price within the upper boundary of the psychological area 1.1950/1.2000/1.2050.
The market dynamics is showing signs of slowing down since the beginning of the trading week. But considering the recent fluctuations, there are suggestions that there is an accumulation process, which may lead to a new round of acceleration.
If we proceed from the current location of the quote, we can see that the quote is still moving within the range of the amplitude of 1.2056/1.2092, showing low activity.
Looking at the trading chart in general terms, the daily period, it can be seen that the scale of the euro strengthening in the period of April casts doubt on the prolonged correction from the peak of the medium-term trend.
In this situation, we can assume that the fluctuation in the range of 1.2056/1.2092 will serve as an impetus for speculative operations, where it is necessary to work on the breakdown of a particular border.
In simple words, we are interested in the outgoing impulse at the moment of the boundary breakdown.
From the point of view of complex indicator analysis, it is clear that the indicators of technical instruments on the minute and hourly intervals have a sell signal, due to the downward cycle of April 26. The daily interval still has a buy signal, referring to the upward cycle of the past trading weeks.
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