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Main » 2016 » February » 3 » Forex forecast 02.03.2016: Euro ready to take the resistance of 1.0950
Forex forecast 02.03.2016: Euro ready to take the resistance of 1.0950

The results of the last trading day:

Expectations on Tuesday fully justified. The euro / dollar has not reached a point to the target level of 1.0940. Helped to strengthen the single currency falling stocks and falling oil prices.



European stocks fell by an average of 2%, the indices in the US - from 1.9% to 2.3%. A barrel of Brent fell by 4.5%, to $ 32.50. The oil price has come under pressure following statements by the General Director of the National Iranian Oil Company (NIOC) R. Javadi that Iran this year will bring oil exports to 2.3 million barrels a day.


Market expectations for today:

From the economic calendar for Wednesday stands out: the British index PMI, ADP and PMI and ISM indices in the United States. Once the cross EUR / GBP unfold upward, waiting for the breakdown of the trend line.

News of the day:

  • From 11:15 12:00 MSK are data on the PMI index in the services sector (Spain, Italy, Germany, France, the euro zone).
  • At 12:30 MSK index of business activity in the services sector will publish the UK.
  • At 13:00 MSK euro zone announce the change in retail sales in December.
  • At 16:15 MSK US announced a change in the number of employees from ADP in January.
  • At 17:45 MSK US will release the index of business activity in the service sector in January Markit.
  • At 18:00 MSK - the index of business activity in the service sector ISM in January.
  • At 18:30 MSK US is to publish a report on the change of oil.


Technical analysis:


  • Intraday goals: maximum -1.0962, at least - 1.0896, closure - 1.0928.
  • Intraday volatility over the last 10 weeks: 102 points (4 digits);


The euro / dollar is trading near the line lb. I first obtained the forecast drop in the euro to 1.0896 / 1.0900, then rebound to 1.0962. If the rebound from 1.0900 will not work, then get ready for the flat until Thursday. If you fall below 1.0890, the euro will return to 1.0860.


The hourly chart EUR / USD


At par


Views: 298 | Added by: mik | Rating: 0.0/0
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