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Main » 2018 » May » 16 » The euro dollar technical outlook EUR / USD today 05/16/2018: euro buyers will try to develop an upward movement
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The euro dollar technical outlook EUR / USD today 05/16/2018: euro buyers will try to develop an upward movement

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Results of the last trading day:


Tuesday, May 15, at the euro trading ended in a good red. The euro fell against the dollar by 117 pips to 1.1820. Strengthening of the US currency began with the European session and intensified after the publication of the US retail sales data. Traders bought the dollar, because the yield on 10-year bonds reached the level of 3.095%, the highest since 2011.

 

 

 

 

Planned statistics (GMT +3):

At 12:00 the Eurozone will present the consumer price index for April.

At 15:00 is scheduled ECB President Mario Draghi.

At 15:30 Canada will report on changes in the production of supplies for the month of March, the US said the change of building permits and the number of bookmarks of new foundations for April. A speech made by members of the ECB and FOMC Bostic member Ker.

At 16:15 the US announced a change in industrial production for April.

At 17:30 the US will declare a change of oil according to the Ministry of Energy.

At 19:00 will make a speech the chairman of the National Bank of Switzerland, Jordan.

 

Fig. 1 euro / dollar, hour period. Data source: TradingView


After the breakdown of the 67th degree and the support area 1,1890-1,1900 euro fell to 135-th degree, which has been strengthened by the time the AI ​​line D3 (SMA55 deviation 1%). Price met with D3 at 1.1824. From it it ricocheted to the level of 1.1875. Against the backdrop of the US bond yield growth rate fell from 1.1875 to 1.1817.


After yesterday's weakening euro buyers today will try to adjust the exchange rate to 1.1870 or 1.1884. Hour cycles and patterns point to a recovery price until the closing of the European session.  


According to the forecast EUR / USD would venture to consider an upward movement and a break of the trend line from 1.1996. Consider buying at the moment is risky, because it is not known what level will begin selling. The dollar and the euro crosses in the red, so Europe should not expect divergent price fluctuations. In my opinion it is better to wait for the pullback and sell euro trend.


Another important point. For two days the euro fell against the dollar by 1.5%, or 180 points. For new short positions is recommended to lower trading volumes, so as not to get hit by a deep correction. It may start all of a sudden. If you are in a transaction risk 2-3% of the deposit, it is necessary to lower it 2 times. If there are open positions, it is necessary to partially close.  


Stochastic is in the sales area. To me this indicates that before restoring price may update at least Asian. Be sure to watch for US10Y and crosses. It is very important now. Against cross nalezte the market.

 

Today EURUSD forecast Vladislav Antonov Alpari

 

 

 

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