This morning, July 17, before the opening of the European trading session EURUSD pair is trading at 1.1714, t. E. There is a slight rise in the euro (about 20 pips) in the past 24 hours. I do not think that the growth recorded in the last 24 hours is targeted traffic and, most likely, is a rebound.
From the perspective of the foundation, now we pay attention to the following events that may have a significant impact on the dynamics of exchange rates "major" currency pairs:
At 11:00 (GMT + 3) in the UK the Bank of England Governor Mark Carney will speak in front of the Treasury Committee with a report on financial stability. This event may significantly increase the volatility of the British pound.
At 11:30 (GMT + 3) ONS will publish statistics on the UK labor market in June. It is expected that the unemployment rate will remain at 4.2%. The average salary, excluding bonuses, rose by 2.7% in May.
At 17:00 (GMT + 3) Fed Chairman George. Powell will speak before the Senate Banking Committee in Washington during a monetary policy hearings.
EURUSD forecast today:
On the daily time frame (D1) in EURUSD has the potential for the formation of "head and shoulders":
However, at the moment the right shoulder is not built yet, so trust this potential figure for the opening of the transaction, I would not.
On the four-hour timeframe (H4) in EURUSD built "descending triangle":
Currently, within the triangle is an attempt to form the fifth wave.
The analysis EURUSD charts on the D1 and H4 says that, although it is now clear and precise signals for sale in EURUSD not yet saved "bearish" sentiment, therefore, is likely to weigh on the euro in EURUSD continue . I assume that very soon we will see lower levels.
Overview Forex Vesselin Petkov Alpari