Results of the last trading day EUR / USD:
On Wednesday, April 3, trading in the EUR / USD pair in the growth. Buyers have raised the price of EUR / USD up to 1.1255, but failed to gain a foothold above the resistance 1.1250. In the American session, they retreated to 1.1225. At the second attempt also failed to slip 1.1250 - the price has stabilized at 1.1240. Now on the hourly timeframe, EUR / USD has created all conditions for the movement of quotations up.
Buyers EUR / USD derive their strength from the expectations of the conclusion of a trade agreement between the US and China, as well as the exit from the impasse of the UK Brekzitu. The British Parliament passed the second reading of a law that prohibits the country out of the EU without any agreement governing future relations with the EU. Now the British government needs to negotiate contentious issues with the leaders of political parties and to agree with them on the adoption of the agreement.
Planned statistics (GMT + 3):
At 14:30 minutes of the meeting of the ECB's monetary policy will be released.
At 15:30 the US announced a change in the number of initial applications for unemployment benefits.
At 17:00 Canada will present PMI managers from the Ivey March.
At 20:00 a speech made by members of FOMC Loretta Mester.
At 23:00 he will make a speech of FOMC members John Williams.
The current situation is EUR / USD:
In just a few hours around the level of 1.1240 has formed a symmetrical triangle. The triangle is a continuation pattern of motion, but may appear in the wave structure on the order below. If we consider the correction of the «abc», then the triangle - wave «b».
Markets by robots changed, so when developing pricing models, we often see false breakouts and movement levels. Classic technical analysis and need big players to know where the crowd puts foot on the figure, and then through the media and investment ideas forms the background information, the price to move in their direction and cause a cascading implementation.
A good example - the rally on April 2 Bitcoins. Price rose nearly 1 thousand. Dollars (+ 20%) on activated stops short position. Enter the market started on a pullback. Someone managed to scalp in this movement, but quickly left the position as the spread reached 25 dollars.
If the current situation is still expected appreciation of the EUR / USD to 1.1263 (67 oz.). If you lower the price of EUR / USD will not go, then we can consider increase in prices to 1.1273.
See also : Forecast forex today 04/04/2019
The euro \ usd forex forecast for EURUSD today Vladislav Antonov Alpari