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Main » 2019 » April » 26 » The euro dollar technical outlook EUR / USD today 04/26/2019: EURUSD pair remains under pressure
12:48
The euro dollar technical outlook EUR / USD today 04/26/2019: EURUSD pair remains under pressure

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Results of the last trading day EUR / USD:


In Thursday, April 25, trading in the EUR / USD pair finished lower by 0.2%. Euro concerned about the health of the eurozone economy, and the overall strengthening of the dollar worsens his health. The dollar index rose to 98.32, the euro has fallen to the levels of June 2017. In the American session the dollar was supported by the strong report on orders for durable goods in the US. The data were better than expected. Now the focus is shifted to the US GDP for the first quarter of 2019, so the strong performance play into the hands of traders to buy dollars.

 

 

 

 

Planned statistics (GMT + 3): 

At 11:00 it National Bank Chairman Thomas Jordan Switzerland.

At 11:30 UK will publish a report on approved applications for mortgage loans on the BBA figures for March.

At 13:00 UK will report on retail sales according to the Confederation of British Industry in April.

At 15:30 the US announced changes in GDP and GDP price index released in the first quarter.

At 17:00 in the US will be released consumer confidence index from Reuters / Michigan in April.

At 20:00 Baker Hughes will publish on the number of active drilling rigs for oil production.

 

The current situation is EUR / USD:  


Since the beginning of the week the euro fell against the dollar by 0.83%. In Asia, it is trading in positive territory at 0.14%. The market is consolidating in anticipation of the publication of the US GDP report. According to the forecast expected to increase by 2.0% compared to 2.2 in the fourth quarter. Given that the latest statistics were better than expected, the market participants are waiting for the value of GDP is much higher than 2.0%. Since this is the first evaluation index, the volatility in the market expected to be high.


The EUR / USD is at the trend line, Stochastic - euro zone sales. Planned for today an important news event, the EUR / USD may remain in the range of 15:30. According to the forecast EUR / USD should not expect the decline to 1.1113. Then the direction will be determined by the US GDP data. There is even the idea that a good GDP is already embedded in the price of EUR / USD, so expect the correction to the closing of the day. It may be formed to Monday pinbar.

 

Forecast EUR / USD today Vladislav Antonov Alpari

 

 

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