EUR/USD Forecast for 08th to 12th April, 2013

Past week, the ECB left interest rates untouched as estimated. The roller coaster came in the press conference, where Draghi hinted on a rate cut, probably within the next two months, but also provided a solid commitment to the Euro project. The European Central Bank still believes the Euro zone will strengthen this year, but will keep a close eye on the economy, to see if conditions keep on to get worse. In light of a monetary attack from Japan and no near end in sight to QE in the US after the reduced Non-Farm Payrolls report, the euro is positively supported.

Keep a close look on these events :

1. Sentix Investor Confidence: 08-04-’13 - 9:30.  
2. German Industrial Production : 08-04-’13 - 11:00.
3. German Trade Balance: 09-04-’13 -  7:00.
4. French Gov Budget Balance: 09-04-’13 -  7:45.
5. French Industrial Production: 10-04-’13 - 7:45.
6. Italian Industrial Production: 10-04-’13 - 9:00.  
7. French CPI: 11-04-’13 - 6:30.
8. ECB Monthly Bulletin: 11-04-’13 - 9:00.
9. German WPI: 12-04-’13 - 7:00.
10. Industrial Production: 12-04-’13 – 10:00.
11. Eurogroup Meetings: 12-04-’13
12. ECOFIN Meetings: 13-04-’13

*All times are GMT

EUR/USD Technical Levels

Euro/dollar was trading in a range, capped by the 1.2880 line. Things changed on Thursday, as the pair dipped just below support at 1.2750, only to swing higher. The 1.2960 line capped Euro/Dollar in the beginning, but in the end it rose towards 1.3050 before closing just below 1.3000.

 
Technical lines from top to bottom:
1.3400 – Strong Resistance
1.3350 – weak Resistance
1.3290 – weak Resistance
1.3255 – Strong Resistance
1.3170 – Strong Resistance
1.3130 – Strong Resistance
1.3100 – weak Resistance
1.3050 – weak Resistance
1.2880 – weak Support
1.2805 – weak Support
1.2750 – Strong Support
1.2700 – weak Support
1.2660 – Strong Support
1.2624 – Strong Support

We are neutral on Euro/Dollar

 
FX Empire’s technical forecast : ( EUR/USD Forecast )