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Major Economic Events and Expectations for Next Week

April 4, 2015 12:38 am

Yesterdays prediction came true and market moved as predicted now what next for EURUSD, Weak Dollar doesn’t mean strong EUR,EUR has moved 150 plus pips up but that doesn’t mean EUR is strong  EUR failed to break 1.1050. The dollar’s collapse may extend into next week, as investors are now considering a rate hike is highly unlikely for June and even hopes diminished towards a September move. most of the major markets will remain closed because of Easter holiday that’s mean we expecting less volatility in the market on Monday.

Next week  USD Market Services  & Composite PMIs data will be released expected at 56.5 from previous 56.9 if data doesn’t match as expected USD will likely to extend its decline but at the same time keep an eye on Greece crisis, Greece has submitted a list of reforms, but the rest of the EU is yet to approve it. In the meantime, the country is say to run out of cash next week, when it will also have to face a payment of 448M euros to the IMF. The EU may then have to release additional funds to Greece, before a deal is done, or let the country default. Despite this last chance seems pretty unlikely at this point, it may generate a strong risk aversion among investors, and keep the EUR subdue.USD FOMC Minutes  Likely it will give slight upward push to EURUSD as the FED is unlikely to shed more light on the upcoming rate hike.

Now if we keep in mind the fundamental events and the technical aspect if EURUSD pair doesn’t break below 1.0960 might call for 1.1114 to 1.1230 however  if it breaks below level 1.0960 than support is at 1.0815.

GOOD LUCK 

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