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Main » 2018 » December » 20 » The euro dollar technical EURUSD forecast for today 20/12/2018: a single currency played at the loss of the dollar
The euro dollar technical EURUSD forecast for today 20/12/2018: a single currency played at the loss of the dollar


Results of the last trading day EURUSD:

On Wednesday, December 19, the euro trading ended slightly down. At auction in Europe, the euro rose to 1.1439. After the meeting, the Open Market Committee of the US Federal Reserve (FOMC) EURUSD podeshevelf the dollar at 75 n., To 1.1364. The fall of the euro stood on the balance sheet line.

As expected, the basic interest rates have increased to 25 bp. n. The range for the interest rate on federal funds (Federal fund rate) is 2.25-2.50%. Rate hike was priced in, as, indeed, and reduced expectations of Fed rate hikes from three to two in 2019.





Planned statistics (GMT + 3): 

At 12:00, the euro zone is to publish data on the change in the balance of payments in October.

At 12:30 UK will report on changes in retail sales for November.

At 15:00, the Bank of England will announce interest rate decision and the planned volume of purchases of assets.

At 16:30 in Canada, there are data on changes in the volume of wholesale trade for October. US will release its manufacturing index for December Philadelphia Fed and will announce the change in the number of initial applications for unemployment benefits.

At 18:00 the US will publish an index of leading indicators for November.



Current Situation EURUSD:


Carrying line and the area near the 67th degree were well supported. At auction in Europe EURUSD rate rebounded to 1.1425. Buyers of the euro passed the 45th degree, and improve mood seen EURUSD quotations to resistance 1.1437. 


Given the emerging pricing model, suppose that will form a triangular formation. Until the end of the day waiting for a moderate weakening EURUSD to balance line - 1.1386.

At the moment, its growth EURUSD buyers indicate that they are ready to move to a level of 1.15 or higher. To do this they need to get to the Resistance and to stand there for about 20 hours.


Pair EURUSD forecast for today Vladislav Antonov Alpari




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