Wednesday's session took place under the dictation of the demand side, which in the first part of the day we defend support at 1,08-1,0810. Then, as expected, demand led the counterattack towards the upper limit of the downward channel. Maximum recorded at the level of 1.0883.
Thursday is another day where we do not have too many macro data. In the afternoon it will be presented the minutes of the meetings of the ECB and the price indices of import and export from the United States. In contrast, the US Department of Labor will present data on the pre-declared unemployed.
The outlook for EUR / USD:
The situation in the eurodolarze slowly begins to clarify and according to my previous assumptions, demand took the initiative after the defense support at 1,08-1,0810. Accordingly, in the next few hours, the upward movement should continue. The aim for the demand side should be the level of 1.09 (upper limit of the channel) and the rest of his defeat. Another natural resistance level will be 1.0945 (peaks 7 and 11 January), whose defeat will open the way toward 1.0971 and 1,0980-90.
Nearby hours should verify the strength of the demand side and in my opinion, we should not go below 1.0847 (Monday minimum).
In an alternative version supply may lead to a return to Wednesday's lows (support 1,08-1,0810), but at the moment, it is not for me option under consideration.
Thursday is another day where we do not have too many macro data. In the afternoon it will be presented the minutes of the meetings of the ECB and the price indices of import and export from the United States. In contrast, the US Department of Labor will present data on the pre-declared unemployed.
The outlook for EUR / USD:
The situation in the eurodolarze slowly begins to clarify and according to my previous assumptions, demand took the initiative after the defense support at 1,08-1,0810. Accordingly, in the next few hours, the upward movement should continue. The aim for the demand side should be the level of 1.09 (upper limit of the channel) and the rest of his defeat. Another natural resistance level will be 1.0945 (peaks 7 and 11 January), whose defeat will open the way toward 1.0971 and 1,0980-90.
Nearby hours should verify the strength of the demand side and in my opinion, we should not go below 1.0847 (Monday minimum).
In an alternative version supply may lead to a return to Wednesday's lows (support 1,08-1,0810), but at the moment, it is not for me option under consideration.