For euro closing of day in a green zone is expected "June 22, 2016"

Results of the last trading day:

On Tuesday euro was closed in minus. After breakdown of support in the area 1,1330, the rate has decreased to 1,1302. From it the rebound was expected. Before speech of the head of the ECB M. Draghi sellers have driven away buyers to 1,1285. Closing the sentry of a candle is lower 1,13 has cancelled the scenario on strengthening of euro.

Draghi has expressed concern about low inflation in the performance and has hinted at readiness of the Central Bank to take new measures of stimulation. Euro exchange rate has reacted with decrease to 1,1239 to such statements.

Expectations for today:

In Asia euro has updated a sessional minimum and is so far traded in a green zone. The rate constitutes 1,1266. European calendar empty. High volatility in the market will remain before the end of the week. The fact that the referendum in Great Britain will take place on Thursday, but not on the weekend pleases. It will help to avoid big gaps.

In recent days speculators have shaken the market on polls on Brexit therefore to closing of the European session I expect recovery of euro exchange rate to level 1,1316. Now we will consider a technical picture why I have taken this level.

News of the present day:

    - Canada will publish an index of retail sales for April.
    - The eurozone – the Index of consumer confidence for June.
    – Speech of the head of the Federal Reserve J. Yellen, secondary market sales of housing for June.
    - The USA – Inventories of oil and oil products in a week on June 12-18.

Technical analysis:

Intra day forecast: at least – 1,1236, at most – 1,1316, closing – 1,1296.

I said more than once that on pair EUR/USD the turning zone is between the 112th and 135th degrees. On the 112th degree of Gunn the final triangle was created. Their exit it was up. So far the price was recovered to 1,1265.


As an economic calendar empty, at the biddings in Europe I consider strengthening of euro to dollar to the 45th degree – 1,1289. If recovery goes according to the plan, then to closing of the European session I wait for return of the price to the trend line – 1,1316. This level is strengthened by the 67th degree, and also by the evening there will be a balance sheet Lb line there (the average line with the period 55). The scenario on growth will be cancelled when closing an hour candle lower than 1,1236.