Summary Thursday:
All the time, the EUR / USD remains in consolidation between 1.1240 and 1,1150-70. During the day we met good data from the US, however, they failed to lead to strong declines and the market accepted it without euphoria. Stagnation in the markets is due to the unclear situation in the negotiations between Greece and the EU.
Economic calendar for Friday:
16:00 USD index of consumer sentiment University of Michigan,
16:00 USD Michigan consumer sentiment index
Tomorrow's calendar is fairly poor, we will know what is true, however, US data are not data, which significantly change the situation on the market. It will keep track of them, as they form part of the puzzle, the finale may be a rise in interest rates or offset in time.
Note: tomorrow may arise unofficial further information about Greece. The situation is getting more serious every time and this can translate into, for jerky movements in the markets. You should reckon with gossip which can sometimes lead to strong movements.
Forecast for Friday:
The situation on the currency pair has not changed. All the time the current forecast is that I outlined yesterday, namely:
from a technical point of view there was to knock the bottom of the wedge upward and then there was a correction of declines with a maximum at 1.1236. Strong resistance level is 1.1240, which should be defended by supply, then we should see another wave of downward in the vicinity of 1,1150-70 level then 1.1134 and 1.1080. At the moment it lasts boring consolidation as the market awaits information regarding Greece. Therefore, the market does not have a specific direction but the downward variant seems more probable (no agreement, greater nervousness in the market or even a small panic will strengthen the dollar).
In an alternative version, the market can get positive news from Brussels in connection with the signing of the agreement and it will support the euro. In this case, we must reckon with overcoming resistance at 1.1240 and again at around 1.13, and testing recent highs around the 1.1456.
So much for the present moment you can write on the EUR / USD pair, which is why I suggest you stay out of the market turmoil, pending the outcome of the negotiations with Greece.
All the time, the EUR / USD remains in consolidation between 1.1240 and 1,1150-70. During the day we met good data from the US, however, they failed to lead to strong declines and the market accepted it without euphoria. Stagnation in the markets is due to the unclear situation in the negotiations between Greece and the EU.
Economic calendar for Friday:
16:00 USD index of consumer sentiment University of Michigan,
16:00 USD Michigan consumer sentiment index
Tomorrow's calendar is fairly poor, we will know what is true, however, US data are not data, which significantly change the situation on the market. It will keep track of them, as they form part of the puzzle, the finale may be a rise in interest rates or offset in time.
Note: tomorrow may arise unofficial further information about Greece. The situation is getting more serious every time and this can translate into, for jerky movements in the markets. You should reckon with gossip which can sometimes lead to strong movements.
Forecast for Friday:
The situation on the currency pair has not changed. All the time the current forecast is that I outlined yesterday, namely:
from a technical point of view there was to knock the bottom of the wedge upward and then there was a correction of declines with a maximum at 1.1236. Strong resistance level is 1.1240, which should be defended by supply, then we should see another wave of downward in the vicinity of 1,1150-70 level then 1.1134 and 1.1080. At the moment it lasts boring consolidation as the market awaits information regarding Greece. Therefore, the market does not have a specific direction but the downward variant seems more probable (no agreement, greater nervousness in the market or even a small panic will strengthen the dollar).
In an alternative version, the market can get positive news from Brussels in connection with the signing of the agreement and it will support the euro. In this case, we must reckon with overcoming resistance at 1.1240 and again at around 1.13, and testing recent highs around the 1.1456.
So much for the present moment you can write on the EUR / USD pair, which is why I suggest you stay out of the market turmoil, pending the outcome of the negotiations with Greece.