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Main » 2018 » September » 17 » The euro dollar technical outlook EUR / USD today 17.09.2018: EURUSD is consolidating near the lower channel line
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The euro dollar technical outlook EUR / USD today 17.09.2018: EURUSD is consolidating near the lower channel line

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Results of the last trading day EURUSD:


On Friday, September 14 trades ended lower EURUSD rate. The dollar strengthened across the foreign exchange market against the background of statements by the US Fed's Evans, as well as the closing of positions on risk pairs with the yen after the announcement of new US sanctions against China. The euro fell to 1.1621.


Evans said he would not be surprised if the US Federal Reserve this year will increase the level of key interest rates four times. US President Trump insists on imposing additional trade sanctions on goods from China amounting to 200 billion. Dollars. 

 

 

 

 

American statistics:

The preliminary value of the US University of Michigan index of consumer sentiment for September amounted to 100.8 (forecast was 96.5, previous 96.2).

The index of industrial stocks and commodities in warehouses in the US for August was + 0.6% (forecast was + 0.5%, previous 0.1%).

 

Planned statistics (GMT +3):  

At 12:00 the Eurozone will publish the consumer price index for August.

At 13:00 in the German Bundesbank monthly report will be presented.

13:15 In a speech made by members of the Board of the ECB Peter Prat.

At 15:30 Canada will declare the change of volume of transactions with foreign securities in July. US was to publish an index of activity in the manufacturing sector from the Federal Reserve Bank of New York in September.

 

Fig. 1 hourly chart of EUR / USD

 

Current Situation EURUSD:


On Friday, my expectations for a weakening of the euro is fully justified to balance the line. Buyers met with resistance near 135-degrees at the level of 1.1722. After absorption bearish pressure on the euro has increased. In the American session, the euro fell to 1.1621. The price has fallen about 90 grams.


What to expect from the EURUSD this week? 


We get mixed picture. On the hourly period of the cycles and patterns until Thursday turned weakening of the euro against the dollar to 1.1545, on the four - strengthening to 1.1724. It may happen that there will be a week-long flat.


On Monday at 12:00 gmt +3 euro zone was to publish the inflation report for August. The ECB is an important indicator, so you should pay attention to it. The report can be a trigger for the European session.


If the United States to impose new tariffs on Chinese goods, increase the risks to a weekly hour scenario (red line). Since the EUR / USD closed lower on Friday and Monday meager economic calendar, then wait for the price increase to 1.1667.  


Buy EURUSD from the trend line is now risky because the euro price is a long time in the uplink (6 days, 14 hours) and hour Stochastic is in the area of ​​sales, rather than shopping. Level 1.1660 top is covered carrying line.

 

Eur usd EURUSD forecast today Vladislav Antonov Alpari

 

 

 

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