Subscribe to RSS

Euro/Dollar: Expected Consolidation Till American Session

Hourly

Yesterday’s Trading:

On Tuesday the DXY index closed up slightly, despite the weak US stats. Durable goods orders, the consumer confidence index and the service sector PMI for the country were all worse than expected.

The FOMC meeting which began yesterday is holding the dollar from falling. The Federal Reserve’s interest rate decision will be made public this evening at 20:00 EET.

The US consumer confidence index for October stood at 97.6 (forecasted: 102.9, previous: reassessed from 103.0 to 102.6).

Durable goods orders in the US for September were down by 1.2% (forecasted: -1.3%, previous: -3.0%).

Main news of the day:

  • At 12:00 EET, Germany’s Gfk consumer confidence index for November will be out;
  • At 20:00 EET, the FOMC decision will be out for the public to see;
  • At 22:00 EET, the RBNZ will make public its interest rate decision.

Market Expectations:

The weak stats couldn’t manage to lend a hand to the euro bulls. The euro fell following the GBP.

All attention is on the Fed decision. It’s expected that the rates will be left unchanged. If everything goes as expected, market participants will look for hints in the press release as to when the rate will be finally put up.

Due to this important currency market event, I made my forecast for up to 20:00 EET. The RBNZ will give its interest rate decision within two hours of the Fed giving theirs. As such, volatility this evening will be high.

Technical Analysis:

  • Intraday target maximum: n/a, minimum: n/a, close: n/a;
  • Intraday volatility for last 10 weeks: 119 points (4 figures).

The euro/dollar is trading under the LB at 1.1034. Despite the AUD’s fall after Aussie stats came out, I’m still expecting the euro/dollar to sit in a sideways until 20:00 EET. It would be nice if we could see a strengthening below 1.10 today.

EURUSD

Daily

The euro/dollar rate is still in a correctional phase. On Tuesday the euro didn’t return to 1.10. The euro/pound cross was supporting it after UK GDP data came out. The technical picture is indicating a continued fall to 1.0807-1.0818 (minimums from 27th May and 20th July). Only the US Fed can stop the euro falling. Now to thee Weekly.

EURUSD

Weekly

Nothing has changed on the weekly graph. The indicators are indicating a further fall for the euro. The target is 1.0818.

EURUSD

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Up to 444% Profit Receive for a Single Trade – Grand Capital

Up to 444% Profit Receive for a Single Trade – Grand Capital(0)

Up to 444% Receive Profit with our new Express Options for Grand Capital Ltd Binary Option Broker. Make a correct prediction for 3 assets at the same time Link: Up to 444% Profit Receive for a single trade Link:  $500 Forex No Deposit Welcome Bonus Link:  40% Forex Welcome Deposit Bonus Available to: All new

$6000 First Deposit Bonus Limited Time Offer – XTrade

$6000 First Deposit Bonus Limited Time Offer – XTrade(0)

Up to $6000 First Deposit Bonus Limited Time Offer (T&C applied) on all Deposits for all Customers. Become an XTrade customer, and get 60% Forex Special bonuses (T&C applied) on all deposits made during your first 7 days!! Link:  $50 Free Cash Welcome Bonus Promotion  (T&C applied) Link:  $30 Free Account Verification Bonus (T&C applied) Link: 

50% Deposit Bonus and $50 No Deposit Bonus – FortFs

50% Deposit Bonus and $50 No Deposit Bonus – FortFs(0)

$50 Forex No Deposit Bonus Promo Action to all eligible clients. Every client who passed the verification process in their trader’s room can get the $50 No Deposit Welcome Bonus Link:  $50 Forex No Deposit Welcome Bonus Link:  Up to 50% Bonus of Every Deposit Link:  15% Support Margin Bonus Promo Available to: New and

15% Forex Welcome Deposit Bonus Up to $1000 – XM

15% Forex Welcome Deposit Bonus Up to $1000 – XM(0)

15% Forex Welcome Deposit Bonus Up to $1000 and $30 Forex No Deposit Bonus Welcome Bonus brings Real Account clients the best rewards available. Entering the markets and trading with XM enables you to earn from your trades and build your own bonus up to a maximum of $1,000. Link:  $30 Forex No Deposit Bonus

Free $200 Earn with Binary No Deposit Bonus – Ayrex

Free $200 Earn with Binary No Deposit Bonus – Ayrex(0)

Earn $200 Free with Binary Options No Deposit Bonus to all new activated trading account. Ayrex presents its very first Binary Options No Deposit Bonus for new traders. Sign up to get FREE $30 and turn them into a fully withdrawable $200! Link: $200 Earn with No Deposit Bonus Link:  $100 Free Win in Just One

$30 Free No Deposit Welcome Bonus Campaign – Tickmill

$30 Free No Deposit Welcome Bonus Campaign – Tickmill(0)

$30 Free No Deposit Welcome Bonus Campaign to All new traders. $30 Free Welcome Account is available to all new clients who expressed a wish for it during the registration process. Link:  $30 Free Welcome Bonus Offer Available to: All new traders Ending Date: 31 December 2017 Bonus Offer: $30 Free No Deposit Welcome Bonus

Get $2017 No Deposit Hot Bonus Promotion – FreshForex

Get $2017 No Deposit Hot Bonus Promotion – FreshForex(0)

$2017 No Deposit Hot Forex Bonus Offer to all new verified customers. The $2017 Hot No Deposit Forex Bonus offers you a unique opportunity to test trading strategies of FreshForex Link:  $2017 No Deposit Hot Bonus offers Available to: All New Traders. Ending Date: 30 April 2017 Bonus Offer: $2017 No Deposit Exclusive Hot Bonus

100% Real Money Cash Back Bonus Promotion – UFX

100% Real Money Cash Back Bonus Promotion – UFX(0)

100% Real Money CashBack Promotion 2018 to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Cashback rewards bonus program Link:  100% Real Money CashBack Promotion Link:  $50 Forex No Deposit Bonus Promotion Available to: All new trading account Ending Date: 31 December 2017 Bonus offer: 100% Real

$15 Cashback Rebate Bonus per Lot Traded – FBS

$15 Cashback Rebate Bonus per Lot Traded – FBS(0)

$15 Cash back Rebate Forex Bonus per Lot Traded to All new traders. $15 Cashback Rebate Forex Bonus service is unavailable for the clients, who registered their accounts via their partners. Link:  $15 Cashback Rebate per Lot Traded Link:  100% Forex Deposit Bonus Promotion Link:  100% Forex Deposit Bonus Promotion Available to: All new traders

100% Easy Welcome Deposit Bonus Promo – Trade12

100% Easy Welcome Deposit Bonus Promo – Trade12(0)

Free Daily Forex Trading Signals via SMS. EMAIL. SKYPE. WHATSAPP and 100% Easy Welcome Deposit Bonus Promo to your Live Trading Account, Free E-Books Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  Get Forex Free E-Books Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get 100%

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories