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EUR/USD Trading Analysis with Forecast for 04 September 2014

September 4, 2014 11:23 am

Yesterday EUR/USD currency pair was moved upward and break 1.3153 resistance level as per 100MA (H1) and also touched weekly pivot point at 1.3161 as per our prediction and averagely stable as per routine movements. On fundamental event basis euro shows negative impact of Italian Services PMI, French Services PMI, German Services PMI and Services PMI but remember if these event actual value level above 50 then improvements intact and if shows level below 50 then confirm negative impact on euro zone.

Forex Fundamental and Technical Analysis:

Today high importance event like ECB Press Conference and Interest Rate Decision. On 22 August 2014, ECB President Mario Draghi told in a Central Bank meeting that our financial market condition in a crisis and inflation expectations were falling significantly and now European Central Bank would use all available instruments needed to ensure the price stability. So today we are expecting that may be ECB stable the euro zone and may be EUR/USD pair move upward near 1.3250 resistance level.

Recommendation Forecast:

We are predicted that as technical basis buy is best from 1.3145 and as fundamentals basis this pair move upward from 1.3150 range to 1.3250 resistance level. Remember if ECB not ensure their euro zone price stability then may be this pair move downward but maximum downward movements near at 1.3060 range.

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