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Main » 2019 » March » 6 » Euro Dollar Technical Forecast EurUSD course today 06.03.2019 before the meeting of the ECB euro came under pressure
Euro Dollar Technical Forecast EurUSD course today 06.03.2019 before the meeting of the ECB euro came under pressure


Results of the last trading day EURUSD:

Tuesday, 5 March in the euro auction ended lower. Rebound from 1.1316 EURUSD quotations failed. Six hours of buyers fought for 1.1320 and lost. The EURUSD fell to 1.1290. 
The euro fell against the US dollar amid published favorable US data (ISM in services and sales in the primary market).

In early trading in Europe, the euro cross pairs well bathed intraday speculators, but it was not enough to keep the support of 1.1320. Pressure from the general strengthening of the dollar was stronger. Later, there were rumors that the European Central Bank on Thursday announced a new round TLTRO operations to combat the economic slowdown. They put additional pressure at the end of the day.





Planned statistics (GMT + 3):

15:15 In a speech made by members of the Committee on Monetary Policy Bank of England John Cunliffe.

At 16:15 the US will publish data on the change in the number of employees from ADP for February.

At 16:30 Canada and the United States announced a change in the trade balance for December. Canada will report on changes in labor productivity for the IV quarter.

At 18:00, the Bank of Canada will announce rate decision and accompanying statement will control.

At 18:30 the US will declare a change of oil according to the Ministry of Energy.

At 20:00 a speech FOMC members Loretta Mester and John Williams.             

At 22:00 will take place the publication Economic Outlook Fed "Beige Book" in the United States.



Current Situation EURUSD:

Tuesday buyers the EURUSD attempted to fight back from 1.1309, but failed. On Wednesday trading in Asia, the euro is trading near yesterday's low 1.1290. All major currencies are in negative territory against the US dollar.

Signs of a reversal in the EURUSD the moment, so the direction of the MA lines would venture to consider today depreciation of the euro to its lower limit of 112 degrees and the lower boundary of the truncated formation. At 17:00 on MT4 likely sharp rebound. Without it, the EURUSD pair risks to fall to 1.1245. For correction to 1.1345 EURUSD buyers need to pass 1.1315.

Do not forget that the key events for the euro this week is a meeting of the ECB press conference, Mario Draghi, as well as a report on the US labor market, which will be released on Friday. 


EURUSD forecast today Vladislav Antonov Alpari




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