The EUR / USD wave analysis and forecast for the week 10.03 - 14.03: The growth of the remains in force. Alleged pivot point is at 1.3706. Our view: Buy a couple of corrections, above the level of 1.3706, with the aim of 1.3940. Alternative scenario: The breakout of the level 1.3706 enable price continue to fall to levels 1.36 - 1.35.
On the eve of the U.S. currency weakened significantly against the euro and the pound and strengthened its position against the Japanese yen. Nyuzmeykerom main item on the right was Mario Draghi. ECB President has said many times to the market that the threat of deflation and therefore no further no need to ease monetary policy.
Wednesday passed quietly enough on currency market Forex. Bidding on the EUR / USD pair held during the day within a narrow range of 40 to claim. Eurozone published a positive report on retail sales for January - index came in at 1.6% m / m, better than consensus - the forecast of 0.7%.
Currency market on Tuesday was marked by the growth of the U.S. dollar. EUR / USD spent the day within the range of 1.3720 - 1.3781 - amid a lack of interesting reports from the Eurozone and the U.S.. Comments President Vladimir Putin that there is no need to use the army to resolve the conflict with Ukraine - cheered "bull" in the stock markets in the first half saw an increase in share price, which supported the demand for the single European currency to the level of 1.3781.
On the first trading day of March, the major currency pairs trading opened with a downward "gap." Blame was the aggravation of the situation in Ukraine. Traditionally, the instability investors prefer to close their positions and go into the cache, ie the U.S. dollar.