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Main » 2018 » August » 15 » The euro dollar technical outlook EUR / USD today 15/08/2018: EURUSD pair is technically ready for a correction
The euro dollar technical outlook EUR / USD today 15/08/2018: EURUSD pair is technically ready for a correction


Results of the last trading day EURUSD:

Tuesday, August 14 trades the EURUSD closed lower. After correction of the euro to the level of 1.1429 in the course of trading in the United States, the euro / dollar fell to 1.1320. The euro fell against the dollar despite the stabilization of the exchange rate of the Turkish lira. Lira has risen against the US dollar by 11%.

Traders sold the euro against the uncertainty of the situation in Turkey will affect the financial condition of some of the European banks, and the overall strengthening of the American currency



Planned statistics (GMT +3):

At 12:30 Britain will publish data on consumer price index, the retail price index, the index of purchase prices of producers, and the index of selling prices of producers for July. Dynamics of changes in consumer prices is an important inflationary indicator for the Bank of England.

At 15:30 in the US, there are data on changes in retail sales in July, as well as labor productivity in the non-manufacturing sector and the level of labor cost for the 2 nd quarter. At the same time it released the index of activity in the manufacturing sector from the Federal Reserve Bank of New York in August.  

At 16:15 the US will be informed about the change in the volume of industrial production for July. It is expected that industrial production increased by 0.3% compared to June.

At 17:00 the US will release the index of the housing market NAHB August.

 At 17:30 US Department of Energy will release its weekly report on oil inventories change. The report is important for traders selling oil and commodity currencies.

At 19:30 it is scheduled address by the President of the Bundesbank Weidmann.   

At 23:00 the US will be informed about the change in the net and the total volume of purchases of long-term US securities by foreign investors in June. No effect on the market.


Fig. 1 hourly chart of EUR / USD


The current situation is the EURUSD

Expectations for yesterday's day fully recovered. Of the balance sheet line (line balance) the price of EURUSD fell below 1.1330 to 67 degrees.

On the hourly period of formation is complete. Today is no script, as shown on the daily price reached the support and dissolute 112 th degree is lower than at the level of 1.1301. In addition to trading in Asia, all major currencies are trading in the red. In crosses with the euro mixed picture. Some pairs are trading in the red, the other - in the black.


What thoughts were for the present day:

1. For the subsequent fall EURUSD - consolidation in the range of 1.1320 - 1.1360.

2. On the hourly chart period EURUSD formed a divergence between the indicator and AO bases 1.1365 and 1.1320. Conditions are met for the upward correction.

3. With the opening of trading in Europe, the price of Down - the trend can be filled up to the level of 1.1301. And not the fact that the fall in prices EURUSD it stops.


Do not miss:  Investing in the PAMM account - how to reduce the risks


Pair EURUSD forecast for today Vladislav Antonov Alpari



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