Forex Forecast and Technical Analysis EURUSD on March, 21 2016

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Expected Euro Fluctuations in 1.1250 – 1.3335 range

Yesterday’s Trading:
The euro/dollar on Friday closed down. The ECB’s head economist Peter Praet hinted at a possible extension of their current monetary stance. The euro found a support at 1.1255. From here the rate restored to 1.1306. US stats helped it to restore to this level. The strengthening underwent some interference from the euro/pound which had fallen from trade close in the US.

Expected Storm on Oil Market

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The oil bulls are pushing up the price of oil. Today the movements of oil prices are up and down. Oil is currently up with Brent on May contracts at $39.2 and WTI with April delivery at $36.9 per barrel. Support for the prices is coming from US news and stats. According to data from the US institute for oil, last week’s commercial oil reserves were up by just 1.5 million barrels; much less than expected. On the whole, the growth in reserves is slowing.

Forex Forecast and Technical Analysis EURUSD on March, 16 2016

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Euro/Dollar Stabilised at 1.11 Before FOMC

Yesterday’s Trading:
On Tuesday the euro/dollar spent the day in a sideways trend with a 50 point range. The euro received support from the euro/pound which was up sharply after the publication of a survey by the Telegraph. The survey showed that 49% of those asked would like the UK to leave the EU, with 47% saying they would prefer to remain in the union. 823 people took part in the survey and it was held by telephone between 11th and 14th March of this year. The referendum is planned for 23rd June. Surveys are a decent instrument to manipulate exchange rates as results constantly change.

Forex Forecast and Technical Analysis EURUSD on February, 10 2016

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Expected Euro Weakening to 1.1256 Before Yellen Speaks

Yesterday’s Trading:
Falls in the stock and oil markets again offered support to the euro and yen. Brent fell to $30.26 and the euro/dollar fell to 1.1337. When the US indices stopped falling, a rally on the euro began: the euro weakened against the dollar to 1.1280.

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