Results of the last trading day EURUSD:
Tuesday, 4 September, the euro / dollar closed a slight decline, although the US session EURUSD rate dropped to 1.1530. The euro dollar is updated at least on the strong data on manufacturing activity in the United States from the ISM. August index was the highest since 2004. In August amounted to 61.3 against the forecast of 57.6 and the previous value of 58.1.
I believe that the depreciation of the euro accelerated after the breakdown of support 1.1594 (trend line rising corrective movement) and the operation underneath 1.1585 and a minimum of protective stops. By the close of the day the euro rebounded to 1.1586. Including today's growth of quotations, buyers EURUSD played all the daily losses of the previous day.
Planned statistics (GMT +3):
From 10:50 11:30 come on indexes of business activity in the services sector in August in France, Germany, the eurozone, Britain. Impact on the market will only UK PMI.
At 12:00 the Eurozone will declare the change in retail sales in July.
At 15:30 Canada will report on changes in the balance of foreign trade balance for July and the level of productivity for the 2nd quarter. US announced changes the balance of foreign trade in July.
At 17:00 Bank of Canada publishes decision on interest rates and accompanying statement will control.
Fig. 1 hourly chart of EUR / USD
Current Situation EURUSD:
On Tuesday, I was not ready for the weakening of the euro, so for the price fluctuations observed from the outside. In Asia, the euro rose to 1.1608 against the strengthening Australian on strong GDP data for Australia.
At the time of writing EURUSD review worth $ 1.1594. At the current price level, the situation is ambiguous, because the daily candle has a long lower shadow. Harbinger bullish sentiment.
EURUSD price strayed from the trend line. The idea of it is necessary to sell EUR / USD at the market, and the daily candle for Tuesday indicates continued growth of quotations to at least 1.1628. In this situation, I see two scenarios for bargains:
1. Buy EURUSD from zone 22 c. - 45 gr. with a view to 1.1625 / 30.
2. Sell EURUSD from 1.1625 / 30, if the price from the current level goes up and pulls back deeply.
I prefer the first scenario - the purchase of a rollback. Difficulties arise from a certain level to enter the market, because the crosses with the euro traded in positive territory (up will drag the euro). Another point - the price strayed from the trend line and the hourly trend in the descending channel sellers can punish customers driving off rate back to 1.1580. Therefore, the lower the level to buy, the better deal.
Eur usd forex forecast for EURUSD today Vladislav Antonov Alpari