On the occasion of Good Friday, most of the world’s major stock exchanges are closed today. The trade will run out in Australia, Germany, France, Poland, Hungary, the United Kingdom, the USA and Hong Kong. This means that most likely a very calm day awaits us and we should not expect large movements.
On Friday 30th of March, the event calendar is very light in important data releases, but late at night, there are some data from China that might grab the attention of global investors – Manufacturing PMI and Non-Manufacturing PMI.
EUR/USD analysis for 30/03/2018:
In the new quarter, EUR/USD will come in the middle of the dominant fluctuation zone of 1.2160-1.2560. Before this happens, however, the market will focus its attention on preliminary inflation readings from the German economy for March. A significant rebound in consumer inflation is expected, but if it does not materialize, it should generate a stronger move than a potential positive surprise. Taking into account the successive expulsion of the EUR/USD increases before 1.2550, the lower limit of the wide range of fluctuations seems to be more probable.
Let’s now take a look at the EUR/USD technical picture at the H4 time frame. The market movements are limited today, but due to the oversold conditions, the market participants are trying to break out above the golden trend line around the level of 1.2334. Due to the limited volatility, this move up might fail and the market will return to the price range between the levels of 1.2334 – 1.2289. The next important technical support is seen at the level of 1.2257.
The material has been provided by InstaForex Company – www.instaforex.com
On the occasion of Good Friday, most of the world’s major stock exchanges are closed today. The trade will run out in Australia, Germany, France, Poland, Hungary, the United Kingdom, the USA and Hong Kong. This means that most likely a very calm day awaits us and we should not expect large movements.
On Friday 30th of March, the event calendar is very light in important data releases, but late at night, there are some data from China that might grab the attention of global investors – Manufacturing PMI and Non-Manufacturing PMI.
EUR/USD analysis for 30/03/2018:
In the new quarter, EUR/USD will come in the middle of the dominant fluctuation zone of 1.2160-1.2560. Before this happens, however, the market will focus its attention on preliminary inflation readings from the German economy for March. A significant rebound in consumer inflation is expected, but if it does not materialize, it should generate a stronger move than a potential positive surprise. Taking into account the successive expulsion of the EUR/USD increases before 1.2550, the lower limit of the wide range of fluctuations seems to be more probable.
Let’s now take a look at the EUR/USD technical picture at the H4 time frame. The market movements are limited today, but due to the oversold conditions, the market participants are trying to break out above the golden trend line around the level of 1.2334. Due to the limited volatility, this move up might fail and the market will return to the price range between the levels of 1.2334 – 1.2289. The next important technical support is seen at the level of 1.2257.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: