Before a meeting of European Central Bank of euro I have returned to 1,12 "June 2, 2016"

Results of the last trading day:

In the run-up to a meeting of European Central Bank euro exchange rate has approached level 1,12. At the American session the price two times came back to level 1,1150 after a statistics exit in the States. However the great demand on euro in cross-countries has allowed eurobulls to win back all suffered losses on news.

Preliminary data of the ISM index have reflected growth in May. The index of business activity in a manufacturing sector of ISM in May has grown to 51,3 in comparison with 50,8 in April and the forecast 50,4.

Buyers got strong support from growing euro/pound cross rate. Results of the last poll have pressured Brekzit for pound. Pair GBP/USD has fallen off to a minimum 1.4385. Judging by sale of pound on all market, participants of the market are afraid of an exit of Great Britain from the EU. I consider that polls manipulate the market and on it earn money.  

Expectations of the market for today:

In Asia euro exchange rate in the moment has jumped up to 1,1213. The bull impulse of continuation hasn't received. Now couple is corrected. On Wednesday buyers have overcome two important levels – 1,1156 (the trend line) and 1,1185 (resistance). On graphics breakdowns are allocated with circles. These are bull signals.

Traders wait for results of a meeting of European Central Bank and M. Draghi's performance. He will submit the revised forecasts for economic growth and inflation. Mario Draghi exerts strong impact on a rate of euro/dollar. He is capable to send a course to 400 points up, and down. His speech can, both to increase the deposit, and to nullify. As technical signals are powerless before fundamental, the review without forecast today.

News of the present day:      

    - Great Britain will publish the PMI index in construction sector for May.
    - in the Eurozone there will be a price index of producers for April.       
    - The European Central Bank will publish the decision on an interest rate. 
    - The USA – Change of quantity occupied (except for agriculture) according to ADP for May.        
    - Mario Draghi's press conference will take place, in the USA there will be a report on number of primary applications for a dole on May 23-29.
    - the member of FOMC Jerome Powell will act.
    - The USA - Change of reserves of oil.
    Summit of OPEC.

The rate of euro/dollar has punched two important levels. On graphics breakdowns are allocated. After breakdown of the trend line with assistance of cross-countries of euro I have become stronger to 1,1213. Growth of couple was slowed down at the line of resistance drawn on maxima. Important borders on graphics are allocated with a triangle. On the lower bound support takes place through 1,1189.

Considering euro perekuplennost with pound (bargains at the channel U3 MA line), the probability on cross-country to see the descending correction is high.


During Mario Draghi's performance in the market high volatility is expected. Range of fluctuations in pair EUR/USD can make from 100 to 200 points. On Friday the States will publish the report on employment. Because of external factors on Thursday and Friday risky to trade.