Results of the last trading day:
In the Monday, April 3, trading in the euro / dollar finished lower. daily patterns of the market formed two similar days (02.04 and 03.04), although the events for them were different. At auction in Europe buyers updated the session high and then rewrite their lows. So on Tuesday, the euro jumped to 1.2335 and plummeted to 1.2254 (-81 n.) With him.
The dollar strengthened throughout the market against the backdrop of increasing the profitability of US bond and stock indices. The fall of the index has suspended the application of US President Trump. He said that China respects the president, but must solve the problem of the US trade deficit.
Planned statistics (GMT +3):
At 10:30 UK will release PMI index for the construction sector in March.
At 12:00 the Eurozone will publish the consumer price index for March and report changes in the unemployment rate for February.
At 17:15 US will present data on changes in the number of employees according to ADP in March.
At 16:45 the US will release PMI for the services sector by Markit for the month of March,
At 17:00 the US will publish the index of business activity in the ISM services from March and a report on changes in the volume of industrial orders in February.
At 17:30 the Ministry of Energy publishes data on changes in stocks of oil.
Fig. 1 euro / dollar, hour period. Data source: TradingView
With growth rates of up to 45-degrees of my expectations, and with the correction medium to Europe - no. After updating the maximum events in the market began to develop rapidly. The euro fell to 1.2335 US session to 1.2254.
67-th degree of support made. During 12 hours of steam corrected with 1.2254 to 1.2287. Technically, the euro / dollar costs to reduce. According to the forecast I expect the weakening euro against the dollar to 1.2254.
In crosses with the euro mixed picture. The main cross EUR / GBP is in the red zone. If the dollar will resume its rally, when the falling crosses, EUR / USD dropped to 1.2240 at least. And if the fall will increase, as the targets are considered the 112th degree - 1.2207.
Today, the economic calendar is very tight. This means that the expected high volatility in the United States. Before NFP traders focus of attention has shifted to the statement of changes in the number of employees according to ADP in March. NFP is important for the US Federal Reserve. By the time the euro will remain under pressure until the close of trading in Europe.
Forecast EUR / USD today Vladislav Antonov Alpari