Analysis and forecasts for EUR / USD 17/02/16

FX:EURUSD   Euro / U.S. Dollar
On Wednesday, investors' attention is focused on the information that come from the United States.
With great anticipation, investors will await the notes from the minutes of the FOMC, which may provide new clues about further increases in interest rates.
Previously, however, we will see inflation and PPI data for permits to build houses. Further, investors will focus on industrial production.
The situation on the currency pair has not changed from that presented in the weekly report. After establishing a short-term peak at 1.1376, Eurodollar moves within the correction of recent increases. In my opinion, the supply side should not overcome the support level 1.1090, which should enable the demand side and lead to further growth. In this case, the demand will have to face the resistance level 1.1160, which will open the way to overcome, at least in the vicinity of the level of 1.1246. In the longer term expect increases in the vicinity of the last summit at the level of 1.1376.
Otherwise, if the supply will lead to a decline below support level 1.1090, Eurodollar can put toward lower price levels, extending in between 1,10-1,1045.
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