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Main » 2018 » December » 7 » The euro dollar technical EURUSD forecast for today 12/07/2018 Traders await US labor market report
The euro dollar technical EURUSD forecast for today 12/07/2018 Traders await US labor market report


Results of the last trading day EURUSD:

On Thursday, the euro trades in the growth. In-session rally in the euro / dollar was caused by a general weakening of the US dollar against the backdrop of the published weaker than expected US labor market data, the fall of the yield on 10-year government bonds United States.

In the first half of trading in Europe, the euro was under pressure from falling stock markets and oil prices. Falling oil prices put pressure on commodity currencies, but they are for other currencies.





Oil fell on news of Saudi Arabia Energy Minister Khalid al-Falih that OPEC agreement to cut production has not yet been reached. He hopes that the decision will be made on 7 December.

By the close of trading in Europe, the euro rose to 1.1412.


Published US statistics:

index of business activity in the US service sector in November of ISM was 60.7 (forecast was 59.6, previous 60.3).

industrial orders index in October in the United States amounted to -2.1% (forecast was -1.8%, previous 0.2%).

The number of applications for unemployment benefits in the US 231 thousand. (Forecast was 226 thousand., The previous value of 235 thousand.).

The number of new jobs in the private sector in the US 179 thousand. (Forecast was 195, the previous value of 225 thousand.).

The trade deficit in the US 55.5 billion. (Forecast was 226 thousand., The previous value of 235 thousand.).


Planned statistics (GMT +3):  

At 10:00 am, Germany is to publish data on changes in the volume of industrial production in October.

At 10:45 France said the change of volume of industrial production for October and the balance of foreign trade in October.

At 11:00 in Switzerland will report on changes in reserves SNB foreign currency in November.

At 11:30 Britain will publish the index of Halifax House prices in November, and at 12:30 - inflation expectations for the IV quarter of consumers.

At 13:00 the Eurozone will report on changes in GDP for the third quarter.

At 16:30 Canada will present data on the change in the unemployment rate and the number of employed in November, the United States - has announced changes in the unemployment rate, the number of non-farm payrolls, average hourly earnings, average workweek, and the proportion of the economically active population in November.

 At 18:00 the US will release consumer sentiment index from Reuters / Michigan in December.


Current Situation EURUSD:

The euro fell from 1.1412 to 1.1358. The current rate of EURUSD 1,1376. For today scheduled a dense block of macroeconomic data. Among the key event of the day is the report on the US labor market. It is important for the US Federal Reserve. Although in December the Fed expected to raise interest rates, a new report NFP need to predict future rate hikes. 

EUR / USD is in the middle of the ascending channel with a pair of boundaries 1.1317 - 1.1443. 112-th degree is also located at 1.1443. At the same level of resistance with daylight passes TF (projection maxima of 1.1500 - 1.1472). If this level is broken buyers EURUSD move to 1.1620.

 Prior to the NFP report is expected to decline in the EURUSD rate area 1.1355 / 60. 


Do not miss: The trading signal MQL with an income of up to 10% per month

EURUSD forecast today Vladislav Antonov Alpari



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