Monday EURUSD market Started from 1.31710.
Today’s market is more on the sell trend side and till it is continuing.
The Morning market was controlled by the sellers and it gone up to 1.31450.
After some hours we have lot of important news’s. After news release the market may move to a good downtrend or it may go uptrend.
Pivot Point Details:
This is the pivot point values for today’s EURUSD.Here Market started from open point- 1.31710 and it is nearer to the Resistance level of R1-1.3198 and we can expect to reach a pivot level of P-1.3132 soon.
So after some hours it may touch the support level of S1-1.3089, if there is news impact.
CCI Values:
Today morning market opened time CCI values was in the position of 114.287 and after some hours it reached -131.786. So the morning time traders were in the sell trend and also we got a bullish trend this morning.
So after news announcement we expect up trend and also the CCI values also may go up.
News Details:
Our markets watch team has given the detail about Today’s news Analysis.
FXBase Market analysis team says,
”
Today we have some important news announcements which can make market more to fluctuate up and down.
At 13:30 USD Medium Impact news NY Empire State Manufacturing Index
The NY Empire State Index is a regional economic indicator published by the Federal Reserve Bank of New York and released around the middle of the month. It’s considered to be an indicator of economic conditions in one of the most populated states in the US.
The forecasted value is -1.0 is the actual value is greater than forecasted value the USD can move in the uptrend otherwise it can move in the downtrend.
At 14:00 USD Medium Impact news TIC Net Long-Term Transactions
Treasury International Capital (TIC) Net Long-Term Transactions measures the difference in value between foreign long-term securities purchased by U.S. citizens and U.S. long-term securities purchased by foreign investors. Demand for domestic securities and currency demand are directly linked because foreigners must buy the domestic currency to purchase the nation’s securities.
The forecasted value is 25.0B if the actual value is greater than forecasted value the USD can moves in the uptrend, otherwise it moves in the downtrend.
At 14:30 EUR High Impact news ECB President Draghi Speaks
Mario Draghi (born 3 September 1947) is an Italian banker and economist who has been governor of the Bank of Italy and succeeded Jean Claude Trichet as President of the European Central Bank starting November 2011. As head of the ECB, which controls short term interest rates, he has more influence over the EUR value than any other person.
If his comments may determine the short-term the EUR may moves in the Uptrend, otherwise it moves in the Downtrend.
”
So the final report is after some hours market will touch pivot level-1.3132, support level S1-1.3089 and if there is news impact, the market may touch the Resistance R1-1.3198 also.
News events may change the forecast, Trade at your own risk. News.fxbase will not be responsible for any kind of loss in your trades.