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EUR/USD Forecast 11 Apr 2016

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EUR/USD Forecast 11 Apr 2016
5/5 of 4 ratings

The pair EUR/USD is going to complete the consolidation

The European macroeconomic data, published on Friday, were mixed. In German exports gained 1.3% vs. 0.5%, imports increased by 0.4% (forecast -0.3%), the overall trade balance amounted to 19.8 billion euro vs. expectations of 18.5 billion.

This week, the US Treasury allocates 108 billion bonds. March and April are the months of the highest budget revenue in connection with the tax payments. And it seems strange why the Treasury continues intensively to build up debt at such favorable circumstances.

Today, there is no significant news, except the Italian industrial production in February. The forecast is -0.7%. Today, the head of the New York Fed, William Dudley will have speech. We are waiting for the completion of the consolidation of the pair EUR/USD in the range of 1.1340-1.1465.

How to trade

The pair EUR/USD has the key levels: 1.1470, 1.1437, 1.1366, 1.1324. If the pair manages to rise above the level of 1.1437, it will go to 1.1470. If the pair EUR/USD falls below 1.1366, it will go to the area of 1.1324. We would buy CALL options if the pair goes above 1.1437. We would buy PUTs if the pair goes below 1.1366.

Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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