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Main » 2018 » August » 30 » The euro dollar technical outlook EUR / USD today 08/30/2018: British helped the buyer m EURUSD recover losses
The euro dollar technical outlook EUR / USD today 08/30/2018: British helped the buyer m EURUSD recover losses


Results of the last trading day EURUSD:

On Wednesday, August 29, trading in the euro resulted in the growth, despite the drop in prices in the first half of the day. Driver for the increase was the gain pairs is, the thrust of investors to risk, weakening of the US currency due to a sharp appreciation of the British pound. He went up to USD 160 points or 1.3%. Against this backdrop, the euro collapsed cross-rate / lb, putting pressure on the euro with the dollar.   

Rally pound summoned representative of the European Union Barnier, saying the EU's attempt to reach an agreement on Brekzitu. He said the EU is ready to offer the UK such conditions of cooperation, which no other country. The euro shot later. EURUSD price has risen above the level of 1.17.



Planned statistics (GMT + 3):

At 10:00 in Switzerland will the index of leading economic indicators from KOF - has no effect on the market.

At 10:55 Germany will publish a report on changes in the number of unemployed in July - a weak effect.

At 11:30 UK will present data on the monetary aggregate M4 in July, the number of approved applications for mortgage loans in July, a change in the total volume of lending to individuals in July - figures virtually no impact on the pound.  

At 15:00 Germany will publish a report on consumer price inflation in August - is possible spike in volatility within 20 points (4 digits).

At 15:30 Canada will publish a report on changes in GDP in June - is interesting for the Canadian dollar. US - the basic price index for personal consumption expenditures to July, consumer spending and income for July, the number of initial claims for unemployment benefits. Market participants react poorly to consumer spending and income.

At 20:30 it is scheduled address by the President of the Bundesbank Jens Weidman.


Fig. 1 hourly chart of EUR / USD


Current Situation EURUSD:


On Wednesday, the price of EURUSD dropped to 1.1652 without rollback. Flying the 45th degree, it ricocheted off the 67th degree, jumped 56 points. On this occasion, I recalled an anecdote about a trader: "The trader, jumped out from the window of the 75th floor on Wall ctrit after hitting the ground jumped 10 meters, than a little played his fall."


After a false break the trend line I corrected the last minimum (dashed line in the form of points). Week intraday patterns and hour cycles show depreciation of the euro before closing the US session. According to the forecast, I was such a scenario and considered.  


Given that crosses traded in positive territory, the favorable zone to sell the euro, I see between levels 1,1715-1,1720. If cross euro / pound unfold upward, the euro rebounded strongly. There are risks update the maximum. We act according to the situation, monitor the cross-country races and the overall dynamics of the dollar index, as well as the yen and US10Y.  


On Wednesday, the Turkish lira depreciated strongly against the US dollar. If before the weekend the pressure on it continues, investors may run in a protective asset - the yen. In this case, the flight of their risky assets will support the vendors, and they will be easier to move down.

If the trend line at 1.1685 area level will be passed, the sellers EURUSD opened the road to the main trend line at 1.1658 (yesterday's zone minimum ).


Forex forecast EURUSD today Vladislav Antonov Alpari




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