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EUR/USD Trading Analysis with Forecast for 11th September 2014

September 11, 2014 9:51 am

Yesterday EUR/USD currency pair was opened at 1.2938 and first move upward at 1.2962 and then correctional movements to near support level 1.2883 and closed at 1.2915, if we are analyze to this movements that pair retreat to previous movements because yesterday not any important fundamental events, in this condition rule of correctional movements as per fibo 40%.

Forex Technical and Fundamental Analysis:

Today we are expecting that this pair will move downward near 1.2895 and then upward near resistance level 1.2952 as technical analysis base. Today not any importance fundamental event for dollar, but euro have some medium importance events like German CPI (MoM), French CPI (MoM), French HICP (MoM), due to these events euro little strong. But remember, ECB Monthly Report announced at 13:00 (GMT+05) in this report European Central Bank provides detailed analysis of current and future economic conditions, may be due to this event report euro weak because when interest rate decrease then flow of money decrease and if flow of money decrease then any home currency value weak, so at the time of event EUR/USD pair will move in bearish trend near at 1.2870.

Recommended Forecast:

Today we are predicted that this pair will move first to support level 1.2865 range and then buy trade is best and other then now sell is best with Take Profit 1.2880. Dear traders remember our premium clients panel also modified our all suggestion time to time. Check Free Signal Session.


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