RobertPapon

Analysis and forecasts for the EUR / USD pair on 04/29/15

FX:EURUSD   Euro / U.S. Dollar
Once again, according to yesterday's forecast currency pair recorded a new high of 1.0991. Demand side was further supported by data from the US worse (Conference Board index fell to 95.2. This is another worse US data, which show that tomorrow's meeting notes from the Fed may be dismissed in the time of a possible rate hike. Let me remind you only that the first possible date for which has some market players this June. However, at the moment a reasonable term, which we assume is September. I personally am of the opinion that there is no interest rate hikes this year.
Economic Calendar:
Wednesday:

14:00 EUR German CPI            
14:30 USD GDP
14:30 USD GDP deflator
16:00 USD sale in progress
20:00 USD FOMC Statement
20:00 USD decision on interest rates

Forecast for Wednesday:

EUR / USD reached the first level of said resistance at 1.10. Most often in such moments market correction is performed with a maximum range of up to 1.0928. After the correction should be made with the aim of increasing wave 1,10-1,1034, which in late March and early April was a strong barrier inhibiting the growth. One should expect that tomorrow the market may move in consolidation between 1.0928 and 1.1034 since you will look forward to the information that will flow from the US. Tomorrow we will know the GDP, which should be worse. Later, we will provide the Fed, which certainly gave a rate hike, and will depend on further macroeconomic data and these last are not the best. This dosage information should support the euro             , and we should see a break 1.1034. Such action could pave the way for a strong upward movement and lead to a strong correction on the dollar. If the current resistance will be pierced by a goal should be the level of 1,1170-1,1220. Very optimistic version 1.14 level.

Note: The demand side should prevail tomorrow
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