Forex EUR USD Forecast

Forex EUR USD Forecast - Daily published professional analytical forecasts for the main currency pair Market Forex: the EUR USD!

Forecast and technical analysis EURUSD on February 15, 2017.

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EUR/USD: a conflicting situation

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On Tuesday, the euro once again closed down against the dollar. The single currency depreciated against the US dollar after Fed Chair Janet Yellen addressed Congress. She announced that the central bank may decide to raise interest rates in one of the forthcoming meetings. She gave no indication, however, of when exactly this might happen.

Forecast and technical analysis EURUSD on February 14, 2017.

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EUR/USD: high risk of trend line being broken through

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Trading on the euro on Monday closed in negative territory. The EUR/USD rate fell to 1.0592. The single currency depreciated on the back of a rise in US 10-year bond yields to 2.4519%. The euro was also sensitive to news about Greece, who is unable to reach a deal with its international creditors. The Greek government need to gain approval in order to receive their next installment of financial assistance in their economic adjustment program, which amounts to 86 billion EUR.

Forecast and technical analysis EURUSD on February 13, 2017.

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EUR/USD: upwards correction expected after a new low

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Trading on the euro closed down on Friday. Expectations of a rebound before the weekend failed to materialise. The level of 1.0637 (67 degrees) didn't hold. The rate slid to 1.0608 (90 degrees) on the back of a rise in US bond yields. The rise in bond yields didn't last long, however. Having reached a session high of 2.4336%, yields then fell by 1.45% to 2.3884% in the space of 2 hours. The euro consequently ricocheted from a low of 1.0608 to 1.0652 (up 44 points).

Forecast and technical analysis EURUSD on February 08, 2017.

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EUR/USD: correction from the low of 1.0656 may be delayed until Thursday

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Trading on the EUR/USD pair closed down on Tuesday. Demand for the US currency was linked to some technical factors. The rate, having broken the support and trend line at the 1.0705 level, further fell to the 1.0656 mark. In the second half of the day, the US dollar weakened against the major currencies on the back of a fall in US bond yields. The euro restored from 1.0656 to 1.0706.

Forecast and technical analysis EURUSD on February 07, 2017.

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EUR/USD: increased risk of the trend line being broken

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At the end of Monday's trading, the EUR/USD rate closed in negative territory. During the American session, the rate rebounded from a minimum of 1.0705 up to 1.0755. I don't believe that there was any significant news behind this rebound. It was a standard correction after Friday's payrolls.

Forecast and technical analysis EURUSD on February 06, 2017.

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EUR/USD: expected movement against US session

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On Friday, trading on the euro after the NFP release ended in the green. The American dollar fell under pressure as traders focused their attention not on the jobs growth in January, but on the revised figures for November and December, which were reduced by 41,000, as well as a growth in unemployment to 4.8% and a lower than expected growth in average hourly earnings of 0.1% (0.3% had been forecasted). The ISM Business Activity Index for the service sector fell from 56.6 to 56.5, where a rise to 57.0 had been forecasted.

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