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Main » 2016 » August » 18 » Forex forecast for today 18.08.2016: EUR / USD - FOMC minutes left, you can move to 1.1373
Forex forecast for today 18.08.2016: EUR / USD - FOMC minutes left, you can move to 1.1373



Results of the last trading day:


On Wednesday, the euro / dollar closed slightly up. Before the publication of minutes of meetings of the US Federal Reserve Federal Open Market Committee (FOMC) price revolves around the level of 1.1270. After their publication euro updated intraday low, then rose to 1.1316.



The Committee decided to hold off on tightening monetary policy and wait for new economic data on the state of the US economy.


Expectations for today:


In Asia, on the positive statistics from Australia, the euro slid yesterday's high at 1.1329. The probability of a rate hike is still below 50%, so the forecast continues to consider the strengthening of the euro against the US dollar. On my goal 1.1373 today.


News of the day:  

At 12:00 MSK Eurozone - Final consumer price index for July.       

At 15:30 MSK Canada - Shopping foreign securities in June.         

At 15:30 MSK USA - The index of business activity in the manufacturing sector from the Federal Reserve Bank of Philadelphia in August, the number of claims for unemployment benefits for the week of August 7-13.

At 17:00 MSK USA - The leading index of CB July.

At 17:05 MSK USA - Speech by FOMC member Dudley.   

At 17:30 MSK US - Stocks of natural gas for the week August 7-13. 


Technical analysis:

Intraday outlook: at least - 1.1284 (current in Asia), the maximum - 1.1373, closing - 1.1348.


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


After the release of the FOMC minutes, EUR / USD tested the line Lb and ricocheted from it rose to 1.1329. In Asia, the euro is trading in positive territory. But for some reason I think that the price will come to the 112-th degrees or 1.1373 through a sawtooth pattern similar to the ascending triangle.


Indicator AO and Stochastic Oscillator are unsuccessfully to grow a pair, so with the opening of trading in Europe may be short-term downward movement. As an act of support level 1.1276 (45 gr.) C line Lb.


A source



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