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Main » 2015 » November » 12 » Prediction: The euro / dollar falls again
Prediction: The euro / dollar falls again

Conflicting data on industrial production in the euro area and it M.Dragi caused the fall of the euro / dollar to 1.0690. As a result, hour period was recorded false break of the trend line and the abolition of reversal price patterns for the correction of the dollar. 



According to published data, the volume of industrial production in the euro zone fell in September compared to August, with increased compared to the same period of the previous year. Statistics has caused excitement among traders because the report comes out Friday by euro zone GDP for the III quarter. According to the forecast is expected to increase by 0.4% m / m and 1.7% y / y. Performance may be lower than forecast.

Index of industrial production in the eurozone in September amounted to 0.3% m / m, 1.7% y / y (forecast 0.0% m / m, 1.3% y / y, the previous value is revised from -0.5 %, 0.9% and 0.4% m / m and 2.2% g / g).

Inflation in Germany rose by 0.3% y / y in October, but remained unchanged as compared to September.

Mario Draghi speaking in the European Parliament raised the quantitative easing program. He said that the ECB may change the type, size and duration of the asset purchase program. In the event of a threat to price stability control uses all available tools.

In the US session, Fed officials are expected to give - Janet Yellen, Charles Evans, James Bullard and William Dudley.

Euro / dollar has returned to the level of 1.0730. The level for which the bulls were not to miss the bears.Closing the daily candle below 1.0700 would signal the fall of the euro. If more GBP / USD closes below 1.5130, the pair EUR / USD, you can aim at the 1.0650 level.

A source



Analysis Alpari
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