Forecast and technical analysis EURUSD on January 24, 2017.

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EUR/USD: Tuesday’s movements could look like Monday’s

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On Monday, euro/dollar trading closed up. In the first half of the day the euro cheapened to 1.0707 dollars as part of a correction. After Trump spoke and the yield for US bonds fell, the price restored to 1.0772. Trump promised to cut business rates and implement a protectionist policy. While he hasn’t given any detailed plan of how to stimulate the US economy, the USD will swing in both directions.

Forecast and technical analysis EURUSD on January 23, 2017.

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EUR/USD: Europe against Asia

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On Friday, 20th January in Washington, Donald Trump was inaugurated as the 45th president of the USA. The euro restored from a minimum of 1.0625 to 1.0709. In his speech Trump promised to make changes to economic and national security. The euro rose with the growth in American bonds, although the currency should have fallen.

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 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.

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