4-hour timeframe

The amplitude of the last 5 days (high-low): 63p - 82p - 82p - 72p - 45p.

Average amplitude for the last 5 days: 69p (66p).

The EUR/USD currency pair on Tuesday, February 19, amid the complete absence of any interesting macroeconomic information moves in different directions and once again in low volatility. The point is clear: traders still have nothing to respond to. Thus, with great difficulty, the euro currency is stuck above the critical line, which theoretically allows it to continue strengthening. The fact that the pair attempted to overcome the area of 1.1250 - 1.1290 and failed three times confirms a possible upward movement to the area of 1.1500. However, from a fundamental point of view, there are still few reasons for this. Nevertheless, from a technical point of view, this option remains very attractive. Today it became known that the European Union is absolutely not against postponing the "divorce" with Great Britain. For the European Union, this is much less important than for the UK, although by all means Brussels is trying to avoid a disordered Brexit. On this message, the pound sterling immediately soared up, while the euro behaves very restrained. Thus, a weak "golden cross" remains in the bottom line, which will intensify only after the price consolidates above the Ichimoku cloud (if it happens). Up to this point, long positions can be considered only in small volumes. Without a serious fundamental data, it will be very difficult for the pair to leave the level below the area of 1.1250 - 1.1290.

Trading recommendations:

The EUR/USD pair has adjusted to the Kijun-Sen line and is trying to resume its upward movement. Thus, long positions with targets of 1.1345 and 1.1391 are now relevant, but in small lots, since the "golden cross" is weak.

It will be possible to consider orders for selling when traders overcome the critical line with the goal of 1,1237, but they have to rely on further downward movement.

In addition to the technical picture, fundamental data and the timing of their release should also be taken into account.

Explanation of illustration:

Ichimoku Indicator:

Tenkan-sen-red line.

Kijun-sen – blue line.

Senkou span a – light brown dotted line.

Senkou span B – light purple dotted line.

Chikou span – green line.

Bollinger Bands Indicator:

3 yellow lines.

MACD:

Red line and histogram with white bars in the indicator window.