Results of the last trading day:
On Wednesday, April 11, trading in the euro / dollar ended little growth. Most of the time the price spun around 135-degrees at the level of 1.2380. The market swing in opposite directions on expectations of a missile strike on Syria by US forces, France and Germany. 48 hours have passed, D.Tramp have not made a decision on striking. Depreciation of the euro against the dollar from 1.2396 to 1.2347 followed after the FOMC meeting minutes.
The March minutes of the meeting the US Federal Reserve Open Market Committee noted that all committee members are expected to continue to improve the situation in the economy and rising inflation. For a rate hike by 25 bps voted for all nine members of the committee. It was the sixth increase in rates since December 2015. Fed officials expect two more rate hikes this year. The regulator has expressed concern over the impact of the markets on the part of the trade and fiscal policies of the White House.
Planned statistics (GMT +3):
09:45 France will release the consumer price index for March.
At 11:30 UK Bank of England will publish a report on the country's credit market conditions in the 1st quarter.
At 12:00 the Eurozone will declare the change in industrial production in February.
At 14:30 in the euro zone will report to the ECB's monetary policy meeting in March.
At 15:30 Canada will submit the price index for new homes in February.
At 15:30 the US will declare changes in the number of initial applications for unemployment benefits and the index will be released in import prices for March.
Fig. 1 euro / dollar, hour period. Data source: TradingView
My expectations were completely justified to yesterday. 135th degree kept influx of buyers. Following the publication of FOMC minutes meeting with price balance line Lb at the level of 1.2347.
Thursday zone of 1.2338 - 1.2345 is a strong support. Since most of the crosses with the euro traded in positive territory, while the Stochastic Oscillator is in a shopping area, that in trading in Europe is projected forward to restore prices to 1.2367. According to it, the price can not go up from the descending channel. If the hourly candle closes above the channel, the script reduce cancellations.
At 14:30 GMT + 3 leaves the ECB report to the last meeting of the Monetary Policy in March. At this event, the euro could fall to the opening of trading in the United States. At the moment I do not see a drop in prices below 67 degrees - 1.2313. If the price return to him ahead of time, ie, to 15:00 GMT + 3, then I will reconsider the goal.
Forex Forecast EUR / USD today Vladislav Antonov Alpari