Investors Expect Important Statistics from the US

During the last sessions trades on majors are quite active. At the same time, a unidirectional trend is not observed. The dollar index (#DX) is consolidating near monthly lows. Over the past week, a key range of 96.90-97.20 has been formed. The greenback is under pressure due to the escalation of the trade conflict between the US and China. It should be recalled that Donald Trump increased duties on Chinese imports from 10% to 25% $200 billion worth. On Monday, May 13, Beijing retaliated and announced the introduction of additional duties $60 billion worth a year. At the moment, financial market participants expect additional drivers.


This week important economic releases from the US will be published, which will have an impact on the future alignment of forces on majors in the short term.

We recommend paying attention to the Philadelphia Fed manufacturing index and statistics on the real estate market, which will be published on Thursday (15:30 GMT+3:00). This index determines the economic well-being of the manufacturing sector of the Philadelphia federal district and has a rather strong influence on the dynamics of the US currency. Experts expect that in May, the figure will accelerate from 8.5 to 9.0. We recommend taking into account the difference between actual and forecasted values.


Let’s consider the current technical pattern on the EUR/USD currency pair

  • Support levels: 1.12000, 1.11600, 1.11200
  • Resistance levels: 1.12600, 1.13000, 1.13250
  • market-news-eurusd-2019-05-14.jpg

    At the moment, the EUR/USD currency pair is in a sideways trend. The technical pattern is ambiguous. The trading instrument is testing the key support and resistance levels: 1.12000 and 1.12600, respectively. Indicators do not send accurate signals:

    • - 50 MA has crossed 200 MA;
    • - the MACD histogram is in the positive zone, but below the signal line.

    We recommend opening positions from the key levels.

    If the statistics from the US turn out to be positive, a fall in the EUR/USD quotes is expected. The movement is tending to 1.11600-1.11200.

    An alternative could be the growth of the EUR/USD currency pair to the round level of 1.13000.

    Confirmations and entry points to the market should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

    JustForex, 2019.05.15

    This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

    Open Account

Get Free Analytics

* required fields
Last Articles
All Articles
How to Become a Successful Forex Trader in Malaysia
With broad access to online brokerage services, everyone can become a trader these days. However, few people actually find success in FX. The reason might be that many of those who try trading skip some essential steps or simply do things wrong. Learn about the best ways to become a currency trader in Malaysia from this article.
Read more
How to Become a Forex Trader in Indonesia
Starting trading currencies in Indonesia is as easy as in the rest of the world. All you need to do is spend a few minutes of your time on opening a trading account and going through the verification process. However, this is hardly enough to start making money, let alone make a living out of forex trading. To learn about the best ways to trade currency in Indonesia, read this article.
Read more
Stop and Limit Orders in Forex
There are many gainful opportunities for traders in the forex market, but no one is immune to losses. That’s the reason why traders should employ an efficient trading strategy where both stop and limit orders go hand in hand with other essential aspects of the strategy.
Read more