Results of the last trading day EUR / USD:
On the evening trading the euro / dollar (EUR / USD) fell 2.4% after the ECB meeting and statements by ECB President Mario Draghi during a press conference.
The regulator has lowered the forecast growth in the eurozone economy for 2018 from 2.4% to 2.1%. Retain QE program before the end of the year and in October it decreased from 30 to 15 billion euros. Draghi also said that at the meeting of deadlines rate hike was not discussed.
Planned statistics (GMT +3):
At 12:00, the euro zone is to publish data on consumer price index for May and inform of change in the trade balance for April. After the meeting, the ECB and the speech Draghi inflation report lost its relevance. QE program is rolled at the end of the year, and the rate will increase no earlier than summer 2019.
At 15:30 Canada will present data on changes in the volume of transactions with foreign securities and the volume of shipments in the manufacturing sector in April. US will release the index of manufacturing activity from the Federal Reserve Bank of New York in June.
At 16:15 the US will be informed about the change in industrial production in May. It has a moderate impact on the market.
At 17:00 the US will publish the consumer sentiment index from Reuters / Michigan in June.
At 20:00, Baker Hughes to publish its weekly report on the number of active drilling rigs for oil production. The report is important for traders of the commodity currencies, and oil futures.
At 23:00 in the US will report on the change in the net and the total volume of purchases of long-term US securities by foreign investors in April. No impact on the market, but is of interest to traders.
The current situation is EUR / USD:
The outlook on the EUR / USD yesterday did. Yes, and not once have predicted intraday drop of 2.4%. After the ECB meeting the euro fell against the dollar to 1.1738. During a press conference M.Dragi pressure on the euro intensified.
At the auction in the US price of EUR / USD has moved into the area pinning (between the lines D3 - D4). The fall from 1.1852 was 247 degrees. As the price of euro did not immediately withdrew from the area, then I consider drop on Friday EUR / USD up to 1.1547 with the overall strengthening of greenbacks. Forming forward three bases with double bear divergence. If expectations are met, then it can be considered after correction EUR / USD up to 1.1640.
Forex Forecast EUR / USD today Vladislav Antonov Alpari