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Forecast and technical analysis EURUSD on January 20, 2017.

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EUR/USD: expected correction to 45 degrees

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At their January meeting, the ECB left the three rates unchanged: the base reference rate at 0.0%, the rate for deposits at -0.40% and the ECB lending rate at 0.25%. The QE program was also left unchanged at 80 billion euros per month until March of this year and from April to December 2017 this figure will be set at 60 billion euros per month.

Forecast and technical analysis EURUSD on January 19, 2017.

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EUR/USD: market awaits Draghi’s speech

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On Wednesday the euro/dollar closed down. Before Yellen spoke the euro corrected to the balance line. Afterwards the euro dropped to 1.0624 dollars. The Fed chief announced that the regulator plans to lift the base interest rate several times before 2019. Furthermore, she declined to precise the times and amount by which the rates will be lifted. Yellen noted that the decisions to be taken will depend on the economic indicators in the US. As usual, she manoeuvred around any real indications. Nevertheless, the dollar rose after she spoke.

Forecast and technical analysis EURUSD on January 18, 2017.

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EUR/USD: expected fall to the balance line

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On Tuesday the euro/dollar closed up. The euro rose against the dollar by 1% to 1.0710 (session maximum fixed at 1.0720) and lost out by 2% against the pound, falling to 0.8626. The GBP rose against the dollar by almost 4 figures after the UK PM spoke.

Forecast and technical analysis EURUSD on January 17, 2017.

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EUR/USD: European participants could counter Asian movement

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On Monday the euro/dollar closed down. After a fall in the rate to 1.0579, the pair switched into a correctional phase. Market participant activeness and trading volumes during the American session were low due to it being Martin Luther King Day in the US. The price spent nine hours at 1.0600.

Forecast and technical analysis EURUSD on January 16, 2017.

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EUR/USD: heading for the 90th degree

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EUR/USD trades on Friday closed up. Due to a revival of the euro/pound cross, the buyers managed to raise the rate to 1.0673. After the publication of American stats the rate crumbled to 1.0596, covering the day’s growth. By trade close the price had bounced from the session minimum, but during Asian trading it returned back to it.

Short-term trading idea: FX USD/CAD – bear speculation: break in the trend line

Trading opportunities for currency pair: there’s been a break in the trend line on the daily graph. Despite the hammer that’s formed, the USD/CAD rate is expected to fall to 1.2815/20 by 8th February, 2017. There is a risk that the rate will head up in accordance with the hammer candle formation. Due to this it isn’t worth rushing to sell the dollar. Monday is a holiday in the US, so we may see a false movement upwards.

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