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The Euro / Dollar currency pair is still moving away from Mario Draghi's statement on the subject of quantitative easing, but there is a rollback. The current week, unfortunately, does not bode well for a European currency, the three-day ECB forum in Portugal, where the heads of central banks will deliver, will not be left without attention. Mario Draghi will please traders as much as three times, on June 18, 19, 20, giving us volatile comments, to which we must be ready.
Further vision
At the moment the situation is as follows. The volatility has stabilized, the average fluctuation is around 80 points, after the rally in 300. The quotation is trying to roll back, but as a result, 1.15050 / 1.1650 is pounding itself into the flat, what can we expect further? I suppose that the concentration in the range will remain, but for a short while, depending on the general background of the forthcoming forum. We will see a gradual decrease to the lower limit, closely pressing us to the range level of 1.1510. Any deep downward movement can be said only after fixing the price below 1.1510. If this happens, then the approximate move to 1.1440 from 1.1300.
Otherwise, the range motion 1.1510 / 1.1650 will remain until the end of the week.
Indicator analysis
Analyzing the different sector of timeframes (TF), we see that in the short term there is a rising interest, bringing us closer to the upper limit, but in a longer-term calculation of "bears" still prevail.
Key Levels
Resistance zones: 1,1650 *; 1,1725 *; 1,1830 *; 1.1900; 1,2100
Support zones: 1,1550 ** (1,1510 / 1,1550); 1.1440; 1,1300 **
* Periodic level
** Range level
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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