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EURUSD - trading strategy at the levels above 1.1320

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  • EURUSD - trading strategy at the levels above 1.1320

    The economic and interest rates politic as a major factor for the markets this week is expecting by There are couples of events that will send signals for the situation in USA and Euro Zone. The first key event for the week is on Tuesday Germany CPI at 6:00 GMT. On Wednesday is the very important Fed's Beige Book at 18:00 GMT also at the same day at 12:30 GMT expects PPI, Core PPI and Retail Sales.
    On Thursday focus in the morning Euro Zone CPI at 9:00 GMT and U.S. CPI and Core CPI at 12:30 GMT.
    In the last business day of the week pay attention over China's GDP for first quarter at 2:00 GMT. China's report is a signal for the total economic growth. Later expects Euro Zone Trade Balance at 9:00 GMT and Industrial Production for United States at 13:15 GMT.
    The technical analysis shows two important support levels at 1.1320 and 1.1345. If EURUSD breaks below 1.1320 predict the end of the uptrend. Otherwise use the levels between 1.1320 and 1.1345 to open long positions with target 1.1495.
    The major resistance levels are 1.1453 and 1.1495.