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Main » 2018 » October » 10 » The euro dollar technical outlook EUR / USD today 10/10/2018: trading in the euro are on Chen impulsively
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The euro dollar technical outlook EUR / USD today 10/10/2018: trading in the euro are on Chen impulsively

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Results of the last trading day EURUSD:


Tuesday, 9 October, the euro trades were closed in the minus 5 points. During the European session the euro dropped to 1.1432. In the American session buyers played a loss, raising the rate to 1.1503. The catalyst for the growth of the pair become the renewed weakening of the US currency in response to the decline in yields on 10-year US Treasury bonds.


Positive impact on the currency market will also have news from the UK. Diplomats said the EU and the UK have made progress in the negotiations on Brekzitu. Trading conditions can be approved by Monday (15 October)

 

Planned statistics (GMT + 3):

At 11:30 UK will report on changes in GDP, industrial output, output in the manufacturing industry, the trade balance and the volume of construction in August.

At 15:30 in Canada, there are data on the change in the volume of building permits issued in August.

At 15:30 the US will publish producer price index for September.

At 16:00 in the UK will change GDP estimate from NIESR for September.

At 17:00 the US will declare the change of volume of stocks at the warehouses of wholesale trade for August.

 

Fig. 1 hourly chart of EUR / USD


Current Situation EURUSD:


Due to a sharp recovery rates EURUSD from 1.1432 on the daily TF formed a long legged doji. Despite the bullish signal, the price before the increase can go back to the 45 th to degree of 1.1461.


The attention of traders in the EURUSD is still directed by the difference between yields on German and Italian bonds. The increase in the spread will cause concern among consumers. In addition to the problems in Italy, the focus of market participants are the negotiations between the UK and the EU.


Summary: Any negative news related Brekzita and Italian budget will cause the euro sale. The fall has stopped about a daily trendline. I think that if we start to 1.16, then after a pullback to 1.1461.

 

Pair EURUSD forecast for today Vladislav Antonov Alpari

 

 

Views: 9 | Added by: mik | Rating: 0.0/0
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