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

Free $100 Non-Deposit Bonus to Everyone – PrivateFX

Free $100 Non-Deposit Bonus to Everyone – PrivateFX(0)

Free $100 Non-Deposit Bonus to Everyone for PrivateFX New Customers. Each new customer who open account from May 16 will get into his/her account a Free bonus of 100 USD to invest in PrivateFX Company’s tools Link:  $100 Non-Deposit Bonus to Everyone Available to: All new trading account Bonus Offer: Free $100 Non-Deposit Bonus to

300% Tradable Bonus plus Risk Free Trade – MarketsYes

300% Tradable Bonus plus Risk Free Trade – MarketsYes(0)

300% Forex Tradable Bonus Promotion and Risk Free Trade plus Forex Free Signals all New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Deposit Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All New and existing clients

25% Forex Credit Bonus on their First Deposit – HYCM

25% Forex Credit Bonus on their First Deposit – HYCM(0)

25% Credit Forex Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$25 Deposit and earn $5000 Cashback Bonus – UFX

$25 Deposit and earn $5000 Cashback Bonus – UFX(0)

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

Weekly Demo Trading Contest – Adamant Finance

Weekly Demo Trading Contest – Adamant Finance(0)

Weekly Forex Demo Trading Contest 2017 total amount of the prize fund is 1300USD. We announce traders’ contest for all who want to take part and to gain prizes. Link:  $50 No Deposit Welcome Bonus Link:  Weekly Forex Trading Contest Available to: All new and existing clients. Ending Date: 31 December 2017 Contest offer: Forex

$30 Fx Bonus to Your Account Completely Free – Fidelis

$30 Fx Bonus to Your Account Completely Free – Fidelis(0)

Get $30 No Deposit Fx Bonus Promotion in your Fidelis CM account and start your forex trading career. Open your new trading account with Fidelis CM in a few simple steps and get your $30 Fx Free No Deposit Bonus credited in your account. Link:  $30 Forex No Deposit Bonus Completely Free Available to: All

Free Forex Trading Signals Promotion – Forex Time

Free Forex Trading Signals Promotion – Forex Time(0)

FXTM Free Forex Trading Signals Spotting Trading Opportunities Just Got Easier and Up to 200% Withdrawable Cashback Rebates and get $4 Cashback back for every lot you trade. Link:  Free Forex Trading Signals Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Ending Date: 31 December 2018 Available to: All Customers Bonus Offer: ForexTime

Free MT4 VPS plus 100% Welcome Bonus – FXGiants

Free MT4 VPS plus 100% Welcome Bonus – FXGiants(0)

FXGiants is offering its valued Trader  the exclusive 100% Maximiser Forex Welcome Bonus. Be rewarded with this unique offer and maximise your trading potential with NO limits. Link:  $35 No Deposit Bonus Promotion Link:  100% Maximiser Deposit Bonus. Link:  20% Bonus Advantage up to $2000 Available to: All new trading account Bonus offer: $35 No

$1000 Welcome Deposit Bonus Promotions – eToro

$1000 Welcome Deposit Bonus Promotions – eToro(0)

Get Forex Welcome Deposit Bonus Promotions code by eToro Forex Broker. Trade over 900 global instruments with most advance and friendly trading platform. Link:  Top Copy Trading Social Platforms Link: Up to $1000 Welcome Deposit Bonus Available to: All new account Ending Date: 31 December 2018 Bonus Offer: Get Forex Welcome Deposit Bonus Promotions code

$50 Forex No Deposit Welcome Free Bonus – ForexBull

$50 Forex No Deposit Welcome Free Bonus – ForexBull(0)

$50 Forex No Deposit Welcome Free Bonus is available to all new clients of ForexBull as well as for those who still haven’t got any previous No Deposit Welcome Free Bonuses from the company. Link:  $50 Forex No Deposit Welcome Bonus Available to: All new trading account Ending Date: 31 December 2017 Bonus offer: $50

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