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Main » 2019 » March » 5 » Eur usd forex forecast for EURUSD today 05.03.2019: EURO - expected upward correction
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Eur usd forex forecast for EURUSD today 05.03.2019: EURO - expected upward correction

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Results of the last trading day EURUSD:


On Monday, March 4 trading in EURUSD ended lower. After the breakdown of the trend line at 1.1360 euro fell against the dollar by 0.45% to 1.1309. What is interesting, the euro fell by falling yields on 10-year US bonds. The idea is that on the background of progress in talks between the US and China should increase interest in risky assets. And yesterday has risen only oil.

 

 

 

 

Planned statistics (GMT + 3):  

At 10:30 Switzerland is to publish an index of consumer prices for February.

From 11:15 to 12:30 will leave indexes of business activity in the services sector in February in Spain, Italy, France, Germany, the eurozone and the UK.

At 12:30 will be released minutes of the meeting of the Committee on Financial Policy of the Bank of England.

At 13:00 the Eurozone will report on changes in retail sales in January.

At 15:30 he will make a speech FOMC member Eric Rosengren.

At 17:30 a speech made by members of FOMC Neil Kashkari.

At 17:45 the US will publish PMI index for the services sector in February, at 18:00 - ISM index for the non-production sphere in February and declared a change in sales of new buildings in December.

At 18:35 to give a speech the head of the Bank of England Governor Mark Carney.

At 22:00 released the monthly report for January in the United States budget.

 

 

Current Situation EURUSD:


Expectations on EURUSD with the breakdown of the trend line is fully justified. I believe that the depreciation of the euro was excessive for a Monday news background. 


Tuesday on EURUSD expect upward correction. Maybe in the near future even update the maximum. President Donald Trump renewed criticism of the Fed Chairman Jerome Powell. Yesterday, he called the dollar too strong and could interfere with the US economy. I think that the US and China sign a new trade agreement, it will begin to seek a weaker dollar to boost the profitability of American companies.


At present, the euro is worth waiting for the restoration of quotations to 1.1371. So I got on the pricing model. Let's see how EURUSD buyers will pass Lb, and whether they want to go today Lb. Zone 1,1356-1,1362 is resistance.


The focus for traders this week will be the ECB meeting and peyrols.

 

EURUSD forecast today Vladislav Antonov Alpari

 

 

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