4-hour timeframe

Technical details:

The senior linear regression channel: direction - down.

The junior linear regression channel: direction - down.

Moving average (20; smoothed) - down.

CCI: -14.9437

The currency pair EUR / USD on Tuesday, March 12, continues a moderate corrective upward movement to the moving average line. As we warned a day earlier, the main attention of traders this week will be riveted to the pound sterling. So it turns out from the very first trading day of the week. The euro passed no more than 40 points on Monday, the pound is more than 200. Such an attitude of traders will probably continue for at least three more days since there will be important Brexit ballots in the UK Parliament today, tomorrow and the day after tomorrow. Today, no macroeconomic reports are expected from the European Union. A report on inflation in the States can save a currency pair from the next day with minimal volatility. It will come out traditionally after lunch. The forecast is + 0.2% in February m / m and + 1.6% y / y. Any value above this forecast will serve as a factor in the strengthening of the US dollar, and vice versa. From a technical point of view, the downward trend is maintained, and the price has not even worked out the moving. Thus, we expect the resumption of the downward movement, which may be determined by turning down the Heikin Ashi indicator. There are no weighty fundamental reasons for the change in the trend for the ascending trend.

Nearest support levels:

S1 - 1.1230

S2 - 1.1169

S3 - 1.1108

Nearest resistance levels:

R1 - 1.1292

R2 - 1.1353

R3 - 1.1414

Trading recommendations:

The EUR / USD currency pair continues to be adjusted. Thus, it is now recommended to wait for the completion of the correction and resume trading for a fall with a view to the Murray level of "-1/8" - 1.1169.

Long positions can be viewed after the price is fixed above the moving average line. In this case, the long positions will become relevant with the first goal of 1.1353.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanations for illustrations:

The senior linear regression channel is the blue lines of the unidirectional movement.

The younger linear regression channel is the purple lines of the unidirectional movement.

CCI - blue line in the indicator window.

The moving average (20; smoothed) is the blue line on the price chart.

Murray levels - multi-colored horizontal stripes.

Heikin Ashi is an indicator that colors bars in blue or purple.