Results of the last trading day:
On Wednesday, April 5, trading in the euro / dollar ended little growth. Market volatility remained high with the European session before its closure. In this case, the rates of exchange far deviated from the closing price on Tuesday.
A trade war has a negative for the dollar between the US and China, and positive - for protective assets. Interest in each moment. With the deterioration of trade relations between the two countries, the negative news had a short-term effect on the markets. China announced a 25% tax on US imports totaling $ 50 billion. At the news the euro took off from 1.2258 to 1.2314, and the pair traded in the corridor 1,2270- 1.2310. Stock indices also played after all the losses fall.
Planned statistics (GMT +3):
At 10:15 Switzerland will present the consumer price index for March.
From 10:15 11:30 come indexes of business activity in the services sector in France, Germany, the eurozone, Britain.
At 12:00, the euro zone is to publish data on retail sales for February.
At 15:30 Canada and the United States said about changing the trade balance for February. US will announce the change in the number of initial applications for unemployment benefits.
At 20:00 is scheduled speech FOMC member Ettore Bastico.
Fig. 1 euro / dollar, hour period. Data source: TradingView
The second half of the day the euro embraced carrying line Lb. In Asia, the dollar is trading in positive territory all currencies. The euro fell to 1.2262.
Forecast adjusted. At least down to 1.2259, up to 45 degrees, the maximum - at 1.2305. When doing the first graph in the Telegram-channel, all crosses on the euro traded in positive territory. Now, all gone into the red zone, except the EUR / JPY and EUR / AUD. If the hourly considered truncated TF formation, then it can drop to 1.2231.
For me, the situation is controversial because the weekly patterns indicate a strengthening of the euro, the cycles - to weaken. In such a situation we should expect multidirectional movements. A break below 1.2250 will cancel the scenario on growth to 1.2305.
Euro dollar forecast EUR / USD today Vladislav Antonov Alpari