Tuesday's session was marked by the continued trend of building side, which of course was the result of non-essential macroeconomic data. On Tuesday Although we know better data on German trade balance and GDP for the euro zone, but the readings did not translate into greater volatility in the EUR / USD pair. The demand has led in the morning to break the 1.1179 level but only enough strength to reach the vicinity of the level of 1.1230. Then supply quite quickly led to declines and the EUR / USD once again consolidate above the 1.1155 level.
Wednesday's calendar of economic events is empty, suggesting another session in the lateral part of an ongoing trend. Greater volatility should see only during Friday's session, when we will see a number of important data from Europe and the USA.
The outlook for EUR / USD pair
The technical situation on the discussed hand remains unchanged. During Wednesday's session, the course should move within the lateral trend. Demand could once again should move towards the resistance zone at 1,1230-40, (Tuesday's maximum and peak of 3rd September). If overcome these resistances, opens the way to higher price levels 1,1277-82 (peaks of 29 June). Any increases seem to be only a correction of recent declines and this, in turn, can be a great opportunity to open short positions.
Alternative variant assumes declines without re-test Tuesday's high of 1.1230. In this case, the supply should once again directed towards support at 1.1155 and then after the break, we should move towards zone support levels at 1,1113-28.
Wednesday's calendar of economic events is empty, suggesting another session in the lateral part of an ongoing trend. Greater volatility should see only during Friday's session, when we will see a number of important data from Europe and the USA.
The outlook for EUR / USD pair
The technical situation on the discussed hand remains unchanged. During Wednesday's session, the course should move within the lateral trend. Demand could once again should move towards the resistance zone at 1,1230-40, (Tuesday's maximum and peak of 3rd September). If overcome these resistances, opens the way to higher price levels 1,1277-82 (peaks of 29 June). Any increases seem to be only a correction of recent declines and this, in turn, can be a great opportunity to open short positions.
Alternative variant assumes declines without re-test Tuesday's high of 1.1230. In this case, the supply should once again directed towards support at 1.1155 and then after the break, we should move towards zone support levels at 1,1113-28.