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Main » 2018 » May » 17 » The euro dollar Technical EUR / USD forecast for today 17/05/2018: EUR / USD pair remains under pressure
11:30
The euro dollar Technical EUR / USD forecast for today 17/05/2018: EUR / USD pair remains under pressure

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Results of the last trading day:


On Wednesday, May 16, trading in the euro ended lower. Chickens euro hit a new low against the dollar since December. a couple of pressure to exert political crisis in Italy, the growth yield on 10-year US bonds, as well as industrial production in the United States report.  


Investors worried about the economic and political future of Italy. Party in March can not form a government and to agree on the appointment of the Prime Minister. The yield on 10-year bonds in the US rose to 3.10% (support for the dollar). Industrial production in the US was higher than market expectations. The course was reduced to 1.1763, from which recovered to 1.1820.

 

 

 

 

Published by the European statistics:

Industrial production index in the US amounted to 0.7% (the forecast was 0.5% m / m, the previous value is revised from 0.5% to 0.7%).

The number of new homes in the US 1,287 million (1,310 million was forecast, the previous value is revised from 1.319 to 1.336 million).

The number of building permits 1.352 million (forecast was 1.347, the previous value is revised from 1.354 to 1.377 million)

 

Planned statistics (GMT +3):

At 15:30 Canada will release data on changes in the volume of transactions with foreign securities in March. US will release its manufacturing index for May Philadelphia Fed, and present data on changes of initial applications for unemployment benefits.

At 17:00 the US will publish an index of leading indicators for April.

At 17:30 Canada will present an overview of the Bank of Canada.

At 17:45 a speech made by members of FOMC Neil Kashkari.

At 19:00 a speech made by members of the Commission's Andy Haldane of the Bank of England.

At 20:30 a speech made by members of FOMC Robert Kaplan.

 

Fig. 1 euro / dollar, hour period. Data source: TradingView


On Wednesday, prices kept falling MA D3 line. From it is pulled back to the carrying line LB (sma with period 55). On Thursday, with the opening of trading in Europe, the euro sales resumed with renewed vigor.


Rate fell to 1.1794. The price is in an upward channel from 1.1763. According to the forecast waiting for her to fall to 1.1760. Not the fact that from it will ostkok. The fact that support for the dollar has a growth yield on 10-year bonds in the US, which rose to the fluid an hour to 3.122%. 


Goals I yesterday called on the euro. Normal support lies at 1.1730 / 40. If cross-country races will all be located in the red zone, then the strengthening dollar is not necessary to be fixed at 67 grams. If you look at the support line D3, the sellers can accelerate the rate to 1.1710 / 20.

 

EURUSD forecast today Vladislav Antonov Alpari

 

 

 

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