Summary Tuesday:
On Tuesday, quite unexpectedly he realized variant alternative, which envisaged a return to levels around 1.1240. In the first part of the demand led the counterattack, with the level of 1.1174 and overcame resistance at 1,12-1,1215. Then, after a period of consolidation, the demand side broke the resistance at 1.1240, bringing the course to the next resistance zone 1,1270-95. Maximum recorded at the level of 1.1276.
The economic calendar for Wednesday is empty. The only noteworthy data will flow from Germany, when it will be announced industrial production.
The forecast for Wednesday:
In view of the recent rally that took place on Tuesday, during the hours we should see profit-taking. In this case, the supply side will have a chance to bring the course toward the 1.1240 level.
If the defense is demand support, it will be possible to increase towards recent highs. This means that once again we will go towards 1,1270-95 resistance zone (maximum 24 September). In the case of the euro zone overcome the Eurodollar should reach the next resistance 1,1318-33 (maximum of 21 September). Breaking down the last resistance negate the downward variant.
On the other hand, if the supply side breaks the support level of 1.1240 it will open the way to lower price levels. The EUR / USD will move towards support levels 1,12-1,1215 zone. Further props levels for supply after the break in / at support levels will be at least Tuesday's 1.1174 and support at 1.1155.
On Tuesday, quite unexpectedly he realized variant alternative, which envisaged a return to levels around 1.1240. In the first part of the demand led the counterattack, with the level of 1.1174 and overcame resistance at 1,12-1,1215. Then, after a period of consolidation, the demand side broke the resistance at 1.1240, bringing the course to the next resistance zone 1,1270-95. Maximum recorded at the level of 1.1276.
The economic calendar for Wednesday is empty. The only noteworthy data will flow from Germany, when it will be announced industrial production.
The forecast for Wednesday:
In view of the recent rally that took place on Tuesday, during the hours we should see profit-taking. In this case, the supply side will have a chance to bring the course toward the 1.1240 level.
If the defense is demand support, it will be possible to increase towards recent highs. This means that once again we will go towards 1,1270-95 resistance zone (maximum 24 September). In the case of the euro zone overcome the Eurodollar should reach the next resistance 1,1318-33 (maximum of 21 September). Breaking down the last resistance negate the downward variant.
On the other hand, if the supply side breaks the support level of 1.1240 it will open the way to lower price levels. The EUR / USD will move towards support levels 1,12-1,1215 zone. Further props levels for supply after the break in / at support levels will be at least Tuesday's 1.1174 and support at 1.1155.