Results of the last trading day:
On Wednesday, April 25, trading in the euro ended lower. Continued profitability growth in the United States more than 3% led to the strengthening dollar and weakening euro. The euro / dollar fell from 1.2245 to 1.2160 (-85 n.). Additional pressure on the euro came from sales in the euro cross pairs on the eve of the ECB meeting and press conference, Mario Draghi.
Planned statistics (GMT + 3):
At 11:30 UK will report on changes in the number of approved applications for mortgage loans on the BBA figures for March.
At 13:00 UK will present the index of retail sales according to the Confederation of British Industry in April.
14:45 ECB publishes decision on interest rates.
At 15:30 a press conference, Mario Draghi. US was to publish data on the change orders for durable goods in March, the balance of foreign trade in goods in March, and the number of initial applications for unemployment benefits.
Fig. 1 euro / dollar, hour period. Data source: TradingView
C peaks 1.2245 price first fell to 45-five degrees, and then to resume growth in yield of US bonds has slipped to 67th degree. At the time of writing, the euro is worth 1.2179 review.
Schedule no prediction because today in pairs with the euro is expected to high volatility. She jumped at the press conference, ECB President Mario Draghi, to be held at 15:30 (GMT + 3) after a meeting of the regulator.
The Telegram-channel I published two scenarios for today. The first scenario considers only the hour cycles and patterns of 120 bars. In the second scenario, I added their expectations for performance, Mario Draghi and increase US10Y yield to 3.07%. Draghi - unpredictable. Price may, during his press conference to "go" to 100 points up, and then - down to 100.
Considering that in Asia the major euro crosses are trading in positive territory, and the dollar - in the red, the risks remain to break the trend line from 1.2400. The level of 1.2188 is the level Gunn - 22.5 t. The price may reach it and stay there until the announcement of the ECB's decisions. Traders interested to receive from Draghi's response to the question: "When will end QE».
Forecast EUR / USD today of Vladislav Antonov Alpari