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Main » 2016 » January » 29 » Forex forecast for 01/29/2016: Buyers are ready to storm the euro dollar 1.0967
11:20
Forex forecast for 01/29/2016: Buyers are ready to storm the euro dollar 1.0967
 
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The results of the last trading day:

On Friday, "evrobyki" tested daily trend line. The euro / dollar rose in the American session to the level of 1.0967. The dollar came under pressure after the US Federal Reserve meeting, as speculators have no confidence that the regulator will raise the rate in the I quarter.

 

 

Market expectations for today:

 

In Asia, the euro weakened against the dollar to 1.0882. Sales were caused by the decision of the Bank of Japan to introduce a policy of negative interest rates. Central Bank will charge 0.1% of the excess reserves of financial institutions, placed in the Bank of Japan.

So far, the situation has stabilized. The euro / dollar is trading at 1.0946. Spent the news, and now buyers are willing to penetrate the trend line and closed in January bullish candle. Today is the last trading day in January.

The day will be very volatile, as at 16:30 MSK will be released GDP data for Canada and the United States.

News of the day:

  • At 9:30 MSK will be released in France GDP for the IV quarter.
  • At 10:00 MSK Germany is to publish data on retail sales.
  • At 11:00 MSK Switzerland is to publish an index of leading economic indicators from the KOF January.
  • At 16:30 MSK Canada will release GDP for November. In the United States will price deflator, the GDP for the IV quarter.
  • At 17:45 MSK - Purchasing Managers Index Chicago in January.
  • At 18:00 MSK - consumer sentiment index from Reuters / Michigan in January.

 

Technical analysis:

 

  • Intraday goals: maximum - 1 target - 1.0961, 2 - 1.0990, at least - 1.0882 (current in Asia), closure - 1.0940.
  • Intraday volatility over the last 10 weeks: 100 points (4 digits);

 

Rurs euro / dollar is trading at 1.0937. Buyers repelled all the losses at the turn of cross-country euro / pound, they suffered after the Bank of Japan meeting. After tailed candle on the hourly period is expected to continue to strengthen the euro. The first target 1.0961. Evening US was to publish data on GDP for the IV quarter. If they are weak, we look forward to the growth of the euro to 1.0990. Perhaps until stopped out at 1.10.

 
 
Analysis Alpari

 

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