A brief summary of Wednesday:
Today pierced 1.1225 level and this means that the first variant was realized yesterday's analysis. In this case, we will move towards recent highs at 1.1456. The fuel for growth was weaker ISM index reading for the services. Data from Europe have proved to be better, as confirmed also by Mario Draghi at a press conference, stating that the situation in Europe is going in the right direction. The ECB president also did not hide his satisfaction with the QE program, which in his view positively supports the economies of Europe. Accordingly, the demand had problems with piercing resistance level at 1.1225 and set a peak of 1.1286.
Economic Calendar for Thursday:
14:30 USD ascendant declared unemployed
14:30 USD Non-agricultural Productivity
14:30 USD Unit labor costs
18:00 USD speaks FOMC member, Tarullo
The market certainly will follow US data tomorrow, but they should not have a significant impact on movements in the EUR / USD pair. Note, however, that the market will read them according to the principle: better data support the dollar, worse support the euro.
Forecast for Thursday:
After piercing the 1.1225 level opened the way towards 1.1456. However, at the moment the currency pair is heavily subscribed, which may lead to a temporary correction. The supply should push the quotation EUR / USD towards support at 1.1225 and 1.1189 (peak on Tuesday). Then demand should attempt to attack the resistance at 1.1315 (76.8% fibo of 1.1456 decline to 1.0818). The next resistances are peak in May, which 1,1350-90 levels. The aim in this case will be around 1.1456 level.
In an alternative version may be exacerbated correction below 1.1189 in the vicinity of 1,11-1,1130
At present embodiment growth seems to be the preferred option.
Note: At the moment the market, based on the lives of optimism and assumes that Greece speaks to the creditors. You should be vigilant, because at the moment we know that the current aid plan may be jedunie temporary and will pay off Greece's debts by the end of June. Any negative news on Greece to strengthen the dollar.
I encourage everyone to comment and wish you many successful investments.
Today pierced 1.1225 level and this means that the first variant was realized yesterday's analysis. In this case, we will move towards recent highs at 1.1456. The fuel for growth was weaker ISM index reading for the services. Data from Europe have proved to be better, as confirmed also by Mario Draghi at a press conference, stating that the situation in Europe is going in the right direction. The ECB president also did not hide his satisfaction with the QE program, which in his view positively supports the economies of Europe. Accordingly, the demand had problems with piercing resistance level at 1.1225 and set a peak of 1.1286.
Economic Calendar for Thursday:
14:30 USD ascendant declared unemployed
14:30 USD Non-agricultural Productivity
14:30 USD Unit labor costs
18:00 USD speaks FOMC member, Tarullo
The market certainly will follow US data tomorrow, but they should not have a significant impact on movements in the EUR / USD pair. Note, however, that the market will read them according to the principle: better data support the dollar, worse support the euro.
Forecast for Thursday:
After piercing the 1.1225 level opened the way towards 1.1456. However, at the moment the currency pair is heavily subscribed, which may lead to a temporary correction. The supply should push the quotation EUR / USD towards support at 1.1225 and 1.1189 (peak on Tuesday). Then demand should attempt to attack the resistance at 1.1315 (76.8% fibo of 1.1456 decline to 1.0818). The next resistances are peak in May, which 1,1350-90 levels. The aim in this case will be around 1.1456 level.
In an alternative version may be exacerbated correction below 1.1189 in the vicinity of 1,11-1,1130
At present embodiment growth seems to be the preferred option.
Note: At the moment the market, based on the lives of optimism and assumes that Greece speaks to the creditors. You should be vigilant, because at the moment we know that the current aid plan may be jedunie temporary and will pay off Greece's debts by the end of June. Any negative news on Greece to strengthen the dollar.
I encourage everyone to comment and wish you many successful investments.