The euro sharply rose

19 March, 2015

Yesterday the main currency pair flew up by more than 400 points up when Janet Yellen accused the USD of rising too fast.
Last night was the finest hour for the single European currency. After a fairly ordinary meeting of the US Federal Reserve, during which the interest rate was maintained in the target range of 0-0.25% per annum, a traditional press conference of the regulator was held. And then the euro/dollar "jumped" up.
This time all the standard accents were shifted. Janet Yellen said that the whole thing is due to an expensive dollar. Exporters suffer without getting the appropriate volume of income. Respectively a slightly smaller volume of funds will go into the budget. Because of the too rapid growth of the USD the Fed will be forced to delay the start time of the interest rate increase. The markets were not ready for this: all bets were calculated on the basis of a rate increase in mid-2015. Now, judging by the mood of the regulator, the start of tightening is carried over to at least September.
The Fed also revised the GDP forecast for the current year. Now, it is assumed that the economy this year will expand by 2.3-2.7% against the previous expectations of growth of 2.6-3.0%. Updated rate expectations now suggest a range of 0.50-0.75% by the end of the year, while earlier economists expected a range of 1.00-1.25%. Expectations for inflation were also significantly lowered.
Against this background, during the remainder of the Wednesday session, the euro/dollar added more than 4 figures. Current bids are around the 1.0756 mark, while investors adjust their positions - still yesterday's reaction was excessive.
It is thought that for now the main currency pair will remain in the corridor of 1.05-1.08.
RoboForex Analytical Department

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Forex Technical Analysis for 29.12.2015

Eurodollar has almost reached the target of its ascending wave. We think, today, the price may continue forming its consolidation channel at the top of this ascending structure. Possibly, the pair may reach 1.0997...

Forex Technical Analysis for 28.12.2015

Eurodollar is still forming an ascending structure, which may be considered as the fourth correctional one inside the descending wave. We think, today, the price may complete the current growth by reaching 1.0997 and then start falling to form the fifth structure with the target at 1.0752...

Technical analysis for 23.12.2015

The euro dollar currency is trading with a decline today. The channel of the fourth component of growth is breaking through. The next step is the fifth with a target at the level of 1.0752. Next, we consider the possibility of the correction returning to the level of 1.0900...

Forex Technical Analysis for 22.12.2015

Eurodollar has almost completed the correction. We think, today, the price may form another descending structure to reach 1.0752 and then return to 1.0900...

Murrey Math Lines for 21.12.2015

Eurodollar is consolidating close to Super Trends, which may soon form bearish cross to confirm a new decline of the price. The closest target is at the 0/8 level. If later the par breaks this level, it may continue falling much deeper...

Forex Technical Analysis for 18.12.2015

Eurodollar has expanded its trading range downwards and returned to the center of the channel. We think, today, the price may be corrected towards 1.0914 to test it from below and the form another descending wave with the target at 1.0742...

Wave Analysis for 17.12.2015

After finishing the wave [a], the pair has started a new local correction. Earlier, the price completed the descending impulse in the wave 3 or C. Later, Eurodollar may complete the wave [b] and start forming the ascending impulse in the wave [c] of 4...

Forex Technical Analysis for 16.12.2015

Eurodollar has finished another descending structure to expand its consolidation channel downwards. We think, today, the price may return to 1.0984. Later, in our opinion, the market may rebound from this level and continue falling inside the downtrend towards 1.0770...

Forex Technical Analysis for 15.12.2015

Eurodollar is expanding its consolidation channel upwards. We think, today, the price may prefer to move according to an alternative scenario and grow to reach 1.1068. Later, in our opinion, the market may fall and expand the channel downwards to reach 1.0925...

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