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EUR/USD Forecast And Price Action For April 17th

This week is almost ended, Easter is here and investors took a break. The Euro-dollar currency pair moved sideways from the opening price to the current moment. Tuesday the price stopped at 1.3800 even though the fundamental analysis was sustaining a US dollar strengthening. Both US CPI and Core CPI surprised with a 0.2% release while it was expected 0.1%.

Yesterday the EU Current Account was below expectations, while the CPI was in line with its estimates of 0.5% y/y. The Core CPI of the European Union did not meet analysts’ median estimation of 0.8% growth on an annual basis. While EU data was rather disappointing, the US releases surprised with some good numbers. Building Permits met their expectations as well as Housing Starts; Capacity Utilization Rate and the Industrial Production went above analysts’ expectations and should have triggered some buying for the US dollar, but it didn’t.

See our last analysis: EUR/USD Forecast And Price Action For April 15th;

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EUR/USD Forecast And Price Action For April 15th

The EURUSD doesn’t stop to amaze me. The quotation touched 1.3900 before the Friday close. During the past weekend Draghi had a speech in which he mentioned the possibility of quantitative easing because the Euro is pretty high and it will hurt EU’s economy. Exactly what we were talking in our last EURUSD Forecast and Price Action analysis.

The currency pair opened this week with a negative gap which is not yet closed. Yesterday EU posted a lower than expected Industrial Production (0.2%), while US surprised with Core Retail and Retail Sales above estimates. Business Inventories for the United States were a bit lower, but insignificant for the US dollar rally. The price targeted 1.3800 and everything was in its favor.

See our last analysis for this currency pair: EUR/USD Forecast And Price Action For April 10th;

Today the price continued to drop under yesterday’s low and reached 1.3800 before the most important releases of the day. Continue reading this article to see which are the relevant economic indicators for today and what is the price action analysis suggesting.

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USD/JPY Forecast For April 14 – 18

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USDJPY had a downfall last week amid a selloff of the US dollar, pushing the quote again towards the 101.00 level. Even though the macro indicators from the Nippon economy were weak, the most important one, current account, managed to stabilize … [Continue reading]

NZD/USD Forecast For April 14 – 18

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The retracement we were talking about last week did not seem to matter too much for the NZDUSD bulls as the quotation broke the resistance level from 0.8700 and flied to a new annual high of 0.8745. Well, the macroeconomic data had its part as the … [Continue reading]

EUR/USD Forecast And Price Action For April 10th

1.3815 fell yesterday under bulls’ pressure. EURUSD’s price has rallied again and got near 1.3870 near the end of the trading day, right after the release of the FOMC meeting Minutes. I was expecting the US dollar to strengthen, but the opposite has … [Continue reading]

EUR/USD Forecast And Price Action For Aprilie 9th

Because I skipped (without intention) yesterday’s forecast I will try to recuperate today. On Monday we had no important economic releases for US and EU. I was expected a low volatility day with no more than 60 pips move and so it was. The European … [Continue reading]