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Main » 2016 » August » 29 » Forex forecast for 29.08.2016: EUR / USD - is expected to recover to 1.1242
Forex forecast for 29.08.2016: EUR / USD - is expected to recover to 1.1242



Results of the last trading day:


On Friday, the euro trading ended in negative territory. With the achieved maximum 1.1341 euro fell 1.5 figure. The fall has stopped at 135 degrees.Demand for the dollar rose after Janet Yellen said on the improvement of conditions in the US economy and increased the arguments in favor of raising interest rates. On the timing of their increase anything was said. Raising rates will be gradual, taking into account received new data on the labor market and inflation.



Expectations for today:

As you know, I consider on Monday against Friday's motion. While experts will digest it Yellen, today I am on the euro / dollar forward recovery to the level of 1.1242. At the moment the shot is possible to 1.1255. The economic calendar for the European session meager, so nothing prevents the bulls play against the weakening of the euro Friday.


News of the day:  

At 15:30 MSK US - Basic index of spending on personal consumption in July, personal income and spending for July.  


Technical analysis:

Intraday outlook: at least - 1.1176 (current in Asia), the maximum - 1.1242, closing - 1.1230.



Fig. 1 euro / dollar exchange rate, the time period. Data source: TradingView


For the euro zone is 112-135 gr. a reversal zone for correction. The fall of the euro / dollar stood at 135-th degree, which passes through the 1.1182 level. Since today is Monday, then I wait for prices to recover 1.1242.In the evening, this level will be tightened carrying line lbi perform resistance to "evrobykov". And after the close of trading in Europe, the course is adjusted against the movement in the European session.


A source


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