RobertPapon

Analysis and forecasts for EUR / USD on 08.05.15

FX:EURUSD   Euro Fx/U.S. Dollar
The currency pair after today attacked the delicate adjustment and set a new high of 1.1393. (This was in line with what I wrote in yesterday's forecast, but the correction was not so deep). After the new maximum, and reaching the important resistance there was profit and the supply has led to an important support at 1.1289. Fight demand and supply ended up sidelining of course to the south. Minimum level dropped to 1.1236!
Economic Calendar:
Friday:

8:00 EUR German Industrial Production
8:00 EUR German Trade Balance
14:30 USD Average Hourly wages
14:30 USD Change in employment in non-agricultural sectors
14:30 USD Private sector employment excluding agriculture
14:30 USD Unemployment rate

Forecast for Friday:
Tomorrow the most important figure of the day namely US data on unemployment and employment in the private sector. Therefore, determining the strategy for tomorrow, please note that you should not rely entirely on technical analysis , as the right move tomorrow we will know after the US data. At the moment, we know that the supply defeated the important support level of 1.1289, which should further declines. Important resistance is at 1.1393 level.
Tomorrow may be considered two options:
If we get good data from the US at the strong appreciation of the dollar and no problem will be broken today's bottom. In this case, you should reckon with the strength of the dollar in the medium term and the last increases as a completed correction. Better US data will reinforce expectations for interest rate hikes in late autumn and confirm that the weak data recently were transient. The supply should push EUR / USD towards 1.1225 then 1.1170 and 1.1140.
In the second variant weaker data from the US will strengthen the euro             and would rather postpone interest rate increases mentioned by the FED. This means that demand should once again take the initiative by attacking the resistance at 1.1289 and leading to increases in the vicinity of today's summit. In the medium term the euro             should gain

I encourage you to comment and good luck!
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