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Main » 2019 » March » 12 » The euro dollar technical EURUSD forecast for today 12/03/2019: market participants are waiting for the results of voting on Brekzit
The euro dollar technical EURUSD forecast for today 12/03/2019: market participants are waiting for the results of voting on Brekzit


Results of the last trading day EURUSD:

On Monday, March 11 trades in the growth of the euro / dollar. In the American session, the euro rose against the US dollar to 1.1274. Traders focused on the British pound, which before the vote on Tuesday Brexit rose by 3 figures to 1.3288. Price drop into zone pinning reaching U4 line. This is rarely seen on the hourly timeframe. 

The market expects that the UK Parliament would vote against the agreement on Brexit, made by Prime Minister May with the EU, and will vote for the extension of Article 50 (withdrawal from the EU).






Planned statistics (GMT + 3):  

At 10:00 in Australia will deliver a speech, Deputy Governor of the RBA Guy Debell.

At 12:30 UK will announce the change in GDP, industrial production, manufacturing output and the visible trade balance for January.

13:45 In a speech made by members of the Executive Board of the ECB Sabina Lautenshleger.

At 15:30 the US will release the consumer price index for February.

At 15:45 a speech made by members of FOMC Lyell Braynard.

At 16:00 Britain will publish data on the change in GDP from NIESR for February. 

The parliamentary vote on Brexit.



Current Situation EURUSD:

EURUSD pair course recovered to the trendline. Despite the collapse of the cross of the euro / pound today is worth waiting for the depreciation of up to 45 degrees EURUSD - 1.1222. Yesterday at this level formed the session low, which became the third point for the construction of the rising channel. According to it, the support passes through 1.1239.

Trend line from 1.1176 has strengthened the balance line. It moves with the same speed, several paragraphs below. I suppose that the price of EURUSD will come out of the channel, but it is unlikely. Also, when a sharp cross recovery rate EUR / USD could jump to 1.1340 (catch runaway pound). 

Today, the focus of traders - vote on Brekzit in the British Parliament. The Briton went three figures. The market has already laid the positive news on it. Now, as part of the correction is expected downward correction. Given the importance of this event, the market is better to watch from the sidelines. Voting time is unknown.


EURUSD rate forecast for today Vladislav Antonov Alpari



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