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Main » 2018 » June » 6 » The euro dollar technical outlook EUR / USD today 06/06/2018: The European session began with the growth of the euro
The euro dollar technical outlook EUR / USD today 06/06/2018: The European session began with the growth of the euro


Results of the last trading day EURUSD:

May 5, trading on the forex pair euro / dollar (EURUSD) the growth. At auction in Europe EURUSD rate declined to the level of 1.1653. By the close of the day the euro buyers played all day loss, restoring the course to the level of 1.1732.

Indexes of business activity in the US reached the highest levels, and exceeded market expectations. The positive effect of them was short-lived. Rumors that on 14 June the ECB will hold a debate on the QE program, changed the mood of speculators. Euro has risen in price to many currencies, and at the moment is not going to take positions.





Published statistics in the United States:

index of business activity in the US services from ISM for May was 58.6 (forecast was 57.9, the previous value - 56.8).

index of business activity in the US service sector, according to the company at Markit, in May amounted to 56.8 (forecast was 56.7, the previous value - 56.7).

Planned statistics (GMT + 3):

At 10:15 Switzerland will present the consumer price index for May. If at this time the market is no movement, the data will have little impact on the dynamics of couples with Frank.

At 15:30 Canada will publish data on foreign trade and the volume of building permits issued in April. I did not notice that the data on foreign trade had an impact on the Canadian dollar.

At 15:30 the US will be informed about the change in the trade balance for April, as well as the level of productivity of labor in the non-manufacturing sector. These do not affect the market.

At 17:00 Canada will release PMI managers from Ivey May.

At 17:30 the US will declare a change of oil reserves by US Department of Energy data.

Current Situation EURUSD:

My expectations of yesterday's day come true. After an unsuccessful attempt to develop EURUSD upward movement of the price breaks the trend line. The euro dipped down after the publication of positive UK statistics. Of 1,1655-1,1663 price zone was restored to the level of 1.1732. Rumors of the ECB helped realized the scenario number 2.

Overview I had to rewrite three times because of the sharp fluctuations, so it is no timetable. I did not understand what caused sharp fluctuations, but will highlight the resistance of EURUSD at 1.1760. Graphic analysis of it is likely to rebound. I do not see any important reports from today's statistics.


Forecast of the EURUSD today Vladislav Antonov Alpari





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