Results of the last trading day EUR / USD:
EURUSD Wednesday, August 8, the euro trading ended slightly up. The high volatility of the market is in trading in Europe. The euro rose to 1.1628, from which flew to 1.1573 against the background of a lack of important events and news about the trade relations between the US and China.
Chinese authorities announced the introduction of 25% import duties on -x US goods worth $ 16 billion, as a response to the introduction of the US duties on 23 August. By the close of the day the euro rebounded to 1.1620.
Planned statistics (GMT +3):
At 11:00 in the euro zone will be released by the Economic Bulletin of the ECB.
15:15 Canada is to publish data on the change of the construction of homes in July, at 15:30 will release the price index for new homes in June.
At 15:30 in the US producer price index will be released in July, as well as the report on the number of initial applications for unemployment benefits.
Fig. 1 hourly chart of EUR / USD
Current Situation EURUSD:
Expected achievement level of 1.1665 on Thursday in trading in Europe. On Wednesday, the geopolitical factor has lowered the rate of the euro strengthening against the dollar. Despite the breakdown of the trend line (L1,1530 - L1552) Euro buyers were able to regroup around the balance line Lb and the 45th degree, and to the closure of the day to win back most of the losses. Nothing can be done. News creates movement in the market.
1. On Wednesday, the euro false break of the trend line has been fixed.
2. Price strayed from 45 degrees.
3. In Asia, the euro rises in price against the dollar, pound, New Zealander. Crosses EURCHF, EURCAD, EURAUD, EURJPY traded slightly down.
If trading in Europe in EURUSD will remain positive dynamics of the W- shaped models (displacement of the right base to top) forward to rising to the 67th degree of 1.1654. Additionally at this level trend line intersects with the top line of the uplink. Buyers have headroom for growth to 1.1690. Dvina we there or not, will depend on the direction of movement at the opening of trading, London.
Do not forget to frost for yield US bonds. If she declines amid escalating conflict between SSCHA and China, it means that the euro will fall in price on risk aversion. If the yield does not decrease against the background of geopolitics, then it will decrease pressure on the dollar and support the single currency.
From the news, perhaps, is to pay attention to the Economic Bulletin of the ECB.
Pair EURUSD forecast for today Vladislav Antonov Alpari