EUR/USD. Forecast for August 20, 2013
August 20, 2013 8:45 amVideo
Latest News
- Technical Analysis of Intraday Price Movement of AUDCHF Cross Currency Pairs, Thursday May 30 2024. May 30, 2024
- Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 30 2024. May 30, 2024
- Forecast for EUR/USD on May 30, 2024 May 30, 2024
- Forecast for GBP/USD on May 30, 2024 May 30, 2024
- Forecast for AUD/USD on May 30, 2024 May 30, 2024
- Overview of GBP/USD on May 30. The pound continues to break all records May 30, 2024
- Overview of EUR/USD on May 30. The euro eagerly capitalized on a new reason for growth May 30, 2024
- The Canadian dollar is going through a period of weakness. Overview of USD/CAD May 30, 2024
- Weak yen vs. strong dollar: waiting for a global reversal. Overview of USD/JPY May 30, 2024
- Technical Analysis – GBPUSD posts 2-month high before paring some gains May 29, 2024
- OPEC+ supply cuts to stay, but patience might start running out – Special Report May 29, 2024
- USD/JPY: Simple trading tips for novice traders on May 29th (US session) May 29, 2024
- GBP/USD: Simple trading tips for novice traders on May 29th (US session) May 29, 2024
- EUR/USD: Simple trading tips for novice traders on May 29th (US session) May 29, 2024
- Trading Signals for GOLD (XAU/USD) for May 29-31, 2024: sell below $2,346 (oversold- 200 EMA) May 29, 2024
- Trading Signals for EUR/USD for May 29-31, 2024: sell below 1.0851 (21 SMA – 200 EMA) May 29, 2024
- GBP/USD: trading plan for the US session on May 29th (analysis of morning deals). The pound continues its correction May 29, 2024
- EUR/USD: trading plan for the US session on May 29th (analysis of morning deals). The euro is pushing in the channel May 29, 2024
- EUR/USD. May 29th. Bulls are running out of strength, but inflation can help them May 29, 2024
- GBP/USD. May 29th. The pound is not worried about the lack of drivers May 29, 2024
Yesterday, amid lack of news the euro has moved 2 points. Today relevant news is not published and the markets will take into account the political situation. First of all, it concerns riots in Egypt, which restrain the US dollar from falling amid rapidly growing yields of US bonds. 10-year bonds yield at 2.87% vs. 2.58% on August 8 and 1.66$ in the end of April. Profitability of 30-year yields is growing from the end of the last year (2.72%) and especially in August, having reached 3.89%. We suppose that in such circumstances the Fed will start cut QE3 from September and strengthen the US dollar.
The start of the campaign for the US dollar strengthening occurs on the peripheral markets. Yesterday the Indian rupee lost 2.38% (however, it was due to systemic crisis; the Russian ruble lost 10 kopeks, the Canadian dollar depreciated 50 points, the Australian dollar lost 70 points, meanwhile oil and metal prices are growing.
Thus, our forecast is still positive. When the first testing level 1.3310 is broken, the price has to test the area of highs of the last ten days of July, 1.3286-1.3296, coinciding with support of Kruzenshtern line (blue sliding) on the H4, after it the first target 1.3265, the low of August 7, opens. When it is broken the second target, the range of local highs on the H4 1.3230/38 opens.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: