Results of the last trading day EUR / USD:
Tuesday, December 11, the euro / dollar closed lower. The reason for the weakening of the euro against the dollar became the general strengthening of the US currency, the statement of the Minister of Finance of Italy Giovanni Tria, as well as reducing the yield of 10-year German bonds before the meeting of the ECB.
EUR / USD rate dropped to 1.1306. The yield on German bonds declined due to sales of Italian and French bonds. D.Tria said that the Italian Government has no plans to change the budget greatly. French President Macron trying to stop the protests with promises to increase wages and reduce taxes. The pair GBP / USD fell against the backdrop of uncertainty with Brekzit.
Planned statistics (GMT +3):
At 13:00 the Eurozone will declare the change in industrial production in October.
At 16:30 Canada will report the change rate of capacity utilization for the third quarter, while the US will publish the consumer price index for November.
At 18:30 US Department of Energy will publish a report on changes in stocks of oil in the country.
At 22:00 in the US will report on performance for November.
Fig. 1 MA EURUSD channels 60 minutes
Current Situation EURUSD:
Against the background of European stock indices buyers EURUSD pair could test the 1.14 level in the area of the 45th degree. With his stone price fell by 94 points. The reasons for the fall of the written above. EURUSD course came out of the rising channel (dashed line), and now the euro is traded under the channel.
According to the forecast EURUSD today expect recovery euro dollar quotations to balance line Lb and the 45th degree. As between the 1H and 4H there are small differences in the indicators, first expect depreciation EURUSD to 1.1317, and then the growth of the euro quotations to 1.1356. As mentioned above, it is the accumulation of layers of different methods of market analysis. The growth of the EURUSD above 1.1380 are not seen.
The external background for the euro remains negative. Considering that on Thursday a meeting of the ECB, it would be nice to revert to 1.1360. Finding prices for the balance line will suit both buyers and sellers of EURUSD. If the level of 1.1300 will not stand, then walk south to the level of 1,1248 (D3).
Do not miss : Forex Forecast and recommendations today 12.12.2018: EUR / USD - the flat, GBP / USD - there is no reason for the growth, USD / JPY - uptrend
EURUSD forecast today Vladislav Antonov Alpari