Subscribe to RSS

Euro/Dollar: Expected Continuation of Consolidation

Hourly

Yesterday’s Trading:

On Wednesday the euro/dollar reached 1.1213 as part of a saw-like pattern. The euro/dollar was up since the ECB’s Mario Draghi didn’t mention a word about the extension of QE. He made a speech in the European parliament, saying that the bank could alter the size, makeup and length of the QE program.

The euro/dollar rose to 1.1213 and is trading at 1.1189 according to latest quotes. The rally peaked at the 90th degree.

Main news of the day:

  • At 11:00 EET, Germany’s IFO indices for current conditions, expectations and business climate for September are out;
  • At 11:30 EET, the UK is publishing August mortgage approvals from BBA data;
  • At 15:30 EET, the US is publishing its initial unemployment benefit application numbers and durable goods orders for August;
  • At 17:00 EET will be the sales setup for August;
  • At 00:00 EET, the Fed’s Yellen will give a speech.

Market Expectations:

On Thursday I’m more inclined to go for a consolidation near the LB.

Technical Analysis:

  • Intraday target maximum: 1.1215 (Europe), minimum: 1.1145 (USA), close: 1.1175;
  • Intraday volatility for last 10 weeks: 125 points (4 figures).

On the daily graph, the euro/dollar is still trading in a sideways trend between 1.1086 and 1.1459. An upward correction from a 1.1104 minimum is developing. Taking into account that the euro/pound cross has returned to the MA and is trading at the U3, the euro/dollar is likely to be under pressure due to a downward correction in addition to the pound/dollar correcting itself.

EURUSD

Daily

The euro/dollar didn’t quite reach 3rd September’s minimum of 1.1086. The price has ricocheted from the LB. A correction is forming on the hourly. It’s probable that today will see the euro continuing its consolidation at 1.1160. The interim target is still 1.1086, with the next at 1.10. Now to the Weekly.

EURUSD

Weekly

The euro/dollar has rebounded from 1.1100 and is still trading in a sideways trend between 1.1086 and 1.1459. After a break in 1.1086, a pinbar will start to come off.

EURUSD

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Forex Trade and Free Win 2 Flight Tickets – Trade12

Forex Trade and Free Win 2 Flight Tickets – Trade12(0)

Forex Trade and Free Win 2 Flight Tickets To The Men’s Final Australian Open January 29, 2017. Register now and get your FREE ATP World Tour | Tennis Tickets Link:  Free Daily Forex Trading Signals Link:  Get 100% Welcome Deposit Bonus Link:  Forex Trade and Win 2 Tickets Available to: All new clients Ending Date:

Forex Demo Trading Competition 2017 – AHMZ TradeFX

Forex Demo Trading Competition 2017 – AHMZ TradeFX(0)

Forex Demo Trading Competition 2017 Total Competition prize is more than 10,000 USD. Once you log in to your Demo account, you can start competing for one of the 300 prizes. Link:  Forex Demo Trading Competition 2017 Available to: All Customers Ending Date: 31 December 2017 Contest offer: Total Competition prize is more than 10,000

$300 Free Win Trading Credit on Monday – easyMarkets

$300 Free Win Trading Credit on Monday – easyMarkets(0)

Enter now and you may win $300 easyMarkets free trading credit bonus on Monday. Answer the weekend quiz and fill the form with your correct and accurate contact details. Link:  50% Deposit Bonus Up to $2000 Link:  $300 Free win Trading Credit Bonus Link:  Up to $2500 Earn just for Sharing Available to: All new

$50 Free Binary Bonus No questions asked – Tradeplus

$50 Free Binary Bonus No questions asked – Tradeplus(0)

Get $50 Free Open a free Binary live trading account, deposit and get $50 FREE Bonus – no questions asked! Make your first deposit and you’ll get an extra $50 – no strings attached Link:  $50 Free Bonus No questions asked Available to: All new Customers Ending Date: 31 December 2017 Bonus offer: Get $50

Get 20% Bonus Make $100 Deposit or More – FirewoodFX

Get 20% Bonus Make $100 Deposit or More – FirewoodFX(0)

20% Forex Bonus Make $100 Deposit or More. Bonus can be used as additional margin and equity If you deposit $500, you can hold a losing position up to $600 Link: 20% Bonus Make $100 Deposit or More Available to: All new and existing Bonus Ending Date: 31 December 2017 Bonus offer: 20% Bonus Make

150% Bonus for a First Time to Binary Trading – NordFX

150% Bonus for a First Time to Binary Trading – NordFX(0)

Up to 150% Bonus for a First Time to binary options Account. For a perfect start, we offer you a 150% bonus for a first-time $5,000 deposit. Link:  Up to 150% Bonus for a First Time Link:  100% Withdrawable Deposit Bonus Link:  55% Deposit Bonus Promotion Available to: All new traders Ending Date: 31 December

100% Welcome Bonus Plus Daily Free Signals – Trade12

100% Welcome Bonus Plus Daily Free Signals – Trade12(0)

Get 100% Welcome Deposit Bonus and 7-day risk free trade, Boost your trading with a free 100% Welcome Deposit Bonus to your Live Trading Account. Link:   Get 100% Welcome Bonus Link:  50% Exclusive Deposit Bonus Link:  Free Daily Forex Trading Signals Available to: All new clients Ending Date: 31 December 2017 Bonus Offer: Get

25 Euro Forex No Deposit Welcome Bonus – direktbroker-FX

25 Euro Forex No Deposit Welcome Bonus – direktbroker-FX(0)

25 Euro Forex No Deposit Welcome Bonus to all EU and the UK  live Trading Account Holder. Open a real account direct instead of an demo account first and you will get a 25,- Euro Free. Link:  25 Euro Free Welcome Bonus Available to: All new account Ending Date: 31 December 2017 Bonus offer: 25

Up to $250 Cash in Your Expert Advisor – ThinkMarkets

Up to $250 Cash in Your Expert Advisor – ThinkMarkets(0)

Up to $250 Cash in Your Expert Advisor. Make the Move to Think Trader and Cash in Your Expert Advisor for Up to $250* Link:  Up to $250 in Your Expert Advisor Available to: All new account Ending Date: 31 December 2017 Bonus offer: Up to $250 Cash in Your Expert Advisor Bonus to all new

$30 Forex No Deposit Bonus Welcome Promo – XM

$30 Forex No Deposit Bonus Welcome Promo – XM(0)

$30 Forex  No Deposit Bonus Welcome Promo Bonus and 15% Welcome 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 Link: 

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