Results of the last trading day:
In the Tuesday, March 20, trading in the euro / dollar finished lower. Driver weakening euro became weak data for Germany and the euro zone, as well as the overall strengthening of the dollar against the backdrop of increasing the profitability of American bonds and adjustment of open positions in anticipation of FOMC meeting results.
The yield on 10-year US bonds rose from 2.85% to 2.90%. EUR / USD pair fell by 114 pips to 1.2240. Buyers have lost all uncommitted profit for 19 March.
Planned statistics (GMT +3):
At 12:30 Britain will publish data on the change in the number of applications for unemployment benefits and public sector net borrowing in February, and the unemployment rate and average earnings in January.
At 14:00 Britain will present a report on industrial orders from the CBI for March.
At 15:30 the US will report on changes in the balance of payments for the 4th quarter.
At 17:00 Switzerland will present a quarterly economic report from the SNB for the 1st quarter. US said to change the volume of home sales in the secondary market in February.
At 17:30 the US will report on changes in oil reserves according to the ministry.
At 21:00 FOMC will announce a decision on the basic interest rate, and will be released economic forecast and accompanying statement.
At 21:30 a press conference the head of the US Federal Reserve.
At 23:00 RBNZ will announce a decision on the basic interest rate, and will cover the RBNZ statement.
Fig. 1 euro / dollar, hour period. Data source: TradingView
By weakening of the euro against the dollar to balance the line lb (SMA 55) I considered. Then I had no doubt. But the complete coverage of the growth is not even considered for 19 March. Weak statistics Germany and the euro zone with the adjustment of open positions in anticipation of the announcement of FOMC decision did the trick.
Depreciation stood at 90-th degree. In Asia, the Euro is at 1.2264 (+ 0.18%). The price is adjusted to yesterday's fall from 1.2364 to 1.2240. Today, without a review of the forecast due to the meeting of the FOMC. Increasing the rate by 25 basis points market is taken into account, so the greatest interest to us will be of updated forecasts and a press conference the head of the US Federal Reserve Dzh.Pauella.
Traders interested to hear from him about the regulator plans and hints at the number of rate hikes this year. Since Powell's first conference as head of the US Federal Reserve, then we should expect high volatility in the evening. If you look at the technique, it lacks the descending wave to 1.2250.
Trader analyst Alpari Vladislav Antonov