Euro is technically ready to continue growth "June 21, 2016"

Results of the last trading day:

On Monday euro exchange rate was closed by growth in relation to Friday closing and decrease to the level of opening of the market in Asia. At Asian session the common currency has become stronger against the American dollar to 1,1382. The dollar was weakened on decrease in fears of Brekzit. The last polls have reflected growth of number of opponents of an exit of Great Britain from the EU.

On good polls a rate the pound/dollar has grown by 371 points, to 1,4717. Euro/dollar after morning rally has returned to level 1,1300. Depreciation of euro has been caused by fall of a rate of euro/pound.

Expectations for today:

From important events of today: two-day performance J. Yellen with the semi-annual report before the Congress of the USA (on June 21-22). In the Congress she will speak about state of the economy and monetary policy. Investors will wait from it for a hint for the term of increase of a rate by the Federal Reserve. Its task not to irritate the markets in a referendum threshold in Great Britain which will take place on Thursday. As on Monday euro was corrected against US dollar following the results of day from it strengthening to 1,1359 is expected.

News of the present day:

    - Great Britain – amount of crediting of a public sector for May.
    - Germany – an index of economic moods of ZEW for June.
    - Great Britain – industrial orders from CBI for June.      
     – speech of the head of the ECB M. Draghi.
     – speech of the head of the Federal Reserve Yellen.

Technical analysis:

Intra day forecast: at least – 1,1303, at most – 1,1383, closing – 1,1359.

In case of decrease euro exchange rate stopped on the 45th and 67th degree. The hour indicator of the joint-stock company has unloaded. It was necessary to the oscillator of stochastics to return to a zone of purchases and it is possible to begin a new growth phase.


Now the rate is at the level of 1,1330. If on minima to draw a line, we will get support. I think, it will not resist and the rate will decrease to 1,1303. From it I wait for strengthening of European currency to 1,1383. Here I put on soft tone J. Yellen more. Performance is planned at 17:00 Moscow time. Depreciation of euro to level 1,1276 will cancel my scenario on growth. On day TF it was created pinbar. I do not consider it yet as the pound is not weakened.