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The euro dollar technical outlook EUR / USD today 21/08/2018: EURUSD price reached the upper border of the channel MA


Results of the last trading day EURUSD:

In the Monday, August 20, trading in the euro resulted in the growth. After day decline in the euro / dollar to 1.1394, EURUSD quotations growth resumed with renewed vigor. Support the exchange rate had a speculation about the upcoming trade negotiations between China and the US, which will be held 22-23 August. The yield on 10-year US bonds fell for risky instruments demand grew.

The euro rebounded against the dollar, all previously lost positions, updating the weekly high at 1.1491.





Planned statistics (GMT +3):

At 09:00 Switzerland Notify change of the balance of foreign trade in July. No effect on the market.  

At 11:30 UK will present data on the change in net borrowings of the public sector in July.

13:00 UK will release the balance of industrial orders according to CBI in August.

At 15:30 Canada will report on changes in the volume of wholesale trade in June.

At 23:30 the American Petroleum Institute (API) will release a report on US crude oil inventories.


Fig. 1 hourly chart of EUR / USD


Current Situation EURUSD:

With the decline in prices to the EURUSD trend line my expectations. Reversal and recovery to 1.1491 euro dollar is not even considered. In Asia, the euro rose against the dollar to 1.1542. Subject to China came to the fore. In addition to this you can add Trump disagreed with Powell to raise rates.

Price MA EURUSD reached the upper limit of the channel (1% deviation from sma 55). This means the market is ready to return to the balance sheet line Lb. This bar it passes through 1.4311. If you expect to fall at an average speed of the last downward correction, the price of EURUSD meet Lb approximately 19:00 gmt +3.

It is also worth noting that the US President Trump does not expect much from the trade negotiations with China in Washington. On Wednesday, the US Federal Reserve will release the minutes of the meeting the US Federal Reserve. In September, it is expected the next rate hike.

Since the 135-th degree has been passed, and growth has been sharp EURUSD buyers try to update the maximum. When the price of the euro dollar reached U3 line, it either bounces and moves to lb, or moving up in the form of a saw. The graph shows its beginning.


Forecast of the EURUSD today Vladislav Antonov Alpari




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