Results of the last trading day EURUSD:
On Monday, 24 September, the euro closed at on Friday, leaving a long shadow over the daily candle. Catalysts to strengthen the euro against the dollar and the British began to statements by ECB President Mario Draghi on inflation.
The euro rose to 1.1851. Amid rising yields on US 10-year bond buyers retreated to 1.1744. In Asia, the fall increased to 1.1731.
Mario Draghi said he expects an increase in inflation and continued wage growth in the euro area.
Planned statistics (GMT + 3):
At 16:00 the US will release house price index for July.
At 17:00 in the US, there are an indicator of consumer confidence and the Richmond Fed manufacturing index for September.
At 23:30 the American Petroleum Institute will release weekly oil reserves.
Fig. 1 hourly chart of EUR / USD
The current situation is EUR / USD:
Sellers EURUSD completely blocked yesterday's growth. It formed a reversal pattern, but without confirmation. She began to be practiced, sellers need to consolidate below 1.1715. According to the forecast of the fall should not expect EURUSD to 1.1715 trendline and then bounce to 1.1750, to take a breather and start times for the trend line pattern. Considering formation on 4H and daily chart, waiting for the fall of the euro to 1.1685.
Traders focus of attention has shifted to the Fed meeting, the results of which will be announced on Wednesday. It is expected to increase rates by 0.25%. Improving built into the price, so that the reaction will be to comment on the rate increase in December. Any hints that the Fed will take a break - and the dollar collapses, as the euro appreciates. I believe that before the announcement of the decision, you can go to 1.1680.
Warning: while the price of EURUSD is above the trend line (1.1715), EURUSD buyers can return it back to 1.1783. Keep this in mind before opening short positions. Although it is risky to sell the euro. Bad ratio of profit and risk.
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EURUSD Forecast for today Vladislav Antonov Alpari