Analysis and Forecast EUR / USD - Weekly review ( 11.04-15.04 )
Moving on to the analysis of the Eurodollar, it is worth quoting a curiosity about the strength of the dollar in April in previous years. It turns out that April is one of the worst months for the dollar. For example, we may use the last 5 years (EUR / USD), when the euro strengthened against the dollar in April fourfold. The exception here is April 2012.
Looking more broadly at the foreign exchange market should be stressed here that the dollar lost the most in April against commodity currencies.
A currency pair is currently at 1.1402 horizontal below the important resistance zone, which I wrote about several times in my daily reports. The demand side is certainly not yet said its last word and according to my preferred option is an attack on the last peaks at levels 1,1437-56, whose defeat opens the way towards the resistance level at 1.1495. Whereas the density of the resistance to be expected of a strong attacking the supply side to w / the resistance. Therefore, to overcome the march level of 1.1495 seems unlikely, which could be a pretext to develop a larger correction. (Certainly, many investors have set short order around 1,1456-95).
Support for the upward trend is the zone between 1,1325-43 levels (peak of 17 March).
Given the current monetary policy of central banks, the ECB and the Fed, we can say with certainty that the differences begin to fade. This in turn should support the common currency, which in the longer term should strengthen against the dollar. With this in mind we can risk saying that eventually comes to breaking the 1.1495 level. In this case, the path towards the 1.1885 level seems to be open.
Looking more broadly at the foreign exchange market should be stressed here that the dollar lost the most in April against commodity currencies.
A currency pair is currently at 1.1402 horizontal below the important resistance zone, which I wrote about several times in my daily reports. The demand side is certainly not yet said its last word and according to my preferred option is an attack on the last peaks at levels 1,1437-56, whose defeat opens the way towards the resistance level at 1.1495. Whereas the density of the resistance to be expected of a strong attacking the supply side to w / the resistance. Therefore, to overcome the march level of 1.1495 seems unlikely, which could be a pretext to develop a larger correction. (Certainly, many investors have set short order around 1,1456-95).
Support for the upward trend is the zone between 1,1325-43 levels (peak of 17 March).
Given the current monetary policy of central banks, the ECB and the Fed, we can say with certainty that the differences begin to fade. This in turn should support the common currency, which in the longer term should strengthen against the dollar. With this in mind we can risk saying that eventually comes to breaking the 1.1495 level. In this case, the path towards the 1.1885 level seems to be open.