10:50Forex Analytics . Overview of the euro / dollar on 01/17/14
|Forex Analytics. Overview of the euro / dollar on 01/17/14|
Technical, fundamental analysis of the situation and the forecast for today.
During yesterday's trading session, the American could not reduce the price of range of interests. The reason was the positive statistics the U.S. consumer price index , which is not nearly unchanged and even decreased in its absolute record. Price 1.3645 became ceiling for growth , and then a sharp increase in repeated applications for unemployment benefits ( increased by 182,000 in January ) completely discourage hunting bulls continue to rise .
At the moment, the asset remains in the accumulation of interest range. Volumetric analysis indicates a slight superiority of bulls in the process of accumulation , but this difference can not be taken as qualitative . Candlestick analysis also indicates accumulation of bullish positions. Forex forecast for today controversial with slight superiority of bulls from the technical side . Considerable importance has today Statistics U.S. economic indicators , which will be published at 17:30 GMT, and until that time the asset with a probability of 80 % will not be able to leave the frame 1.3588 - 1.3630 .
Important levels for bears presented strong support : 1.3575 , 1.3550 . growth (no accumulation ) limited 1.3645 , 1.3655 . Changing the statistics of the European Union , issued during the European session , can not properly affect the situation and is an outstanding representative of the fundamental "noise ."
The fundamental outlook for the EUR / USD
Today is not a danger for large flat market , which reigned in the market. The European session on the strengths poor news, not behind it , and the American , however , the data at the time of trading in the U.S. have a strong potential and presented information on the construction sector ( building permits, construction started , etc. , etc. . ) . Growth of positive sentiment in the U.S. will be able to bring the price in an upward correction .
Conclusion: an analytical review and forex forecast today controversial due to the lack of strong news database . Bulls are present as a corrective component within the range 1.3598-1.3645 accumulation . See the proposed concept of trade and make appropriate conclusions.
Intermediate levels of support and resistance for today .
Thus, for a 30- minute analysis period :
( 1.3525 , 1.3500 , 1.3492 , 1.3425 , 1.3602 , 1.3644 ) - Levels reserved.
Note: This article is not an analytical guidance and reflects the personal opinion of the author.
Shikhaliev Farid , Analysis and Market Forecasts Forex
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