Results of the last trading day:
In the Tuesday, April 17, trading on the EUR / USD pair ended a slight increase. According to the results of the day, the loss of the euro against the US dollar accounted for 10 points. At the auction in the US dollar the euro was down 78 pips to 1.2336, after a new maximum at the opening in Europe. The fall of EUR / USD pair has intensified after the release of disappointing data on ZEW index in Germany. A recovery from 1.2336 to 1.2376 took place against the background of the general weakening of the US currency and reduce the yield of the US 10-year bonds. It can be assumed it was related to the topics of US trade relations with China.
Planned statistics (GMT +3):
At 11:30 Britain will publish consumer price index, the retail price index, producer price index of purchasing and selling the index of producer prices for March.
At 12:00, the euro zone will release the consumer price index for March.
At 17:00 the Bank of Canada will announce rate decision and accompanying statement will be released and a report on the control of monetary policy.
At 17:30 US Department of Energy will publish data on changes in stocks of crude oil according to the Ministry of Energy.
At 18:15 in Canada will be a press conference by the Bank of Canada.
At 21:00 will review economic Fed regions in the USA "Beige Book".
Fig. 1 euro / dollar, hour period. Data source: TradingView
In currency trading Tuesday, the euro fell to a 90-th degree to the level of 1.2336. At the auction in the US sellers have tried to pass a trend line, but the decline in the yield of 10-year US bonds has forced sellers to retreat to the level of 1.2376.
In Asian trading the US dollar shows mixed trends. EURO traded against the dollar in the positive area. Since the euro crosses in demand, it is possible with the opening of trading in Europe, the euro / dollar will update the maximum and 45 th degree the market will resume its downward movement. Today we expect a similar trend with the past, but with a lower amplitude vibrations.
According to the clock cycles I fall in the euro / dollar should last until 12:00 gmt + 20 March-April. To encourage buyers to close long positions, sellers must pass two levels: 1.2357 and 1.2330.
Today, the focus of the currency market players inflation data eurozone and Britain, as well as the meeting of the Bank of Canada's monetary policy.
EURUSD forecast today and every day Vladislav Antonov Alpari