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The euro exchange rate against the dollar EURUSD forecast for today 12/10/2019: downward trend persists


In the Monday, December 9, at the end of the day the euro rose by four points. After Friday's NFP activity on the Forex at the beginning of the week was low. In the first half of the European session, the pair euro / dollar recovered to 1.1078, the second fell to 1.1055. At the time of writing the price is consolidating at 1.1066.



Planned statistics (GMT + 3):

At 12:30 UK will announce the change in GDP, industrial output, processing industry output, the balance of visible trade and the volume of construction in October. news block will have a profound impact on the British pound.

At 13:00 Germany and the euro zone will publish the index of sentiment in the business environment of the institute ZEW in December. support for the euro - the growth rate is expected. Other currency has no effect.

At 16:00 in the UK there are data on changes in GDP from NIESR for November.


Current Situation EURUSD:

Sellers EURUSD fell short of 13 points to the target level of 1.1042. The fall in growth from 1.1040 to 1.1078 was 61.8%. Reject from the Fibo level is the first sign that the flat could be delayed to Thursday.

On Wednesday, the US regulator will announce a decision on interest rates. On Thursday, a meeting of the ECB and the parliamentary elections in the UK. It is expected that the rate will be saved, so the attention of speculators focus will shift to the press conference of the Central Bank.

The advantage of the Conservative Party increased. The pound has weakly responds to polls.

December 15 - the deadline for the next increase of US tariffs on Chinese goods. Chinese authorities have said they want to conclude a trade agreement the United States as soon as possible. It is not known, they will have time to make a deal or not.  

The euro is near balance line. Today comes a tight unit of the UK. We believe that he will have a strong impact on the pair with the British pound. Accordingly, in the absence of the dynamics of the dollar, we should expect an echo in the euro / dollar cross through the main euro / pound. We adhere to the forecast the euro weakening. If buyers EURUSD will keep the area 1,1030-1,1035, then already on the pricing model can be expected to recover at a press conference, Christine Lagarde.


Forecast EURUSD rate Alpari



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