EUR/USD : The pair is progressing, and test the 1.18 despite stats US exceed expectations, but let’s not forget ECB meeting tomorrow

The EUR/USD pair has advanced this afternoon, ignoring the durable goods orders US above the expectations published at 14: 30, and strengthening even at the present time his rise with a test above 1.18 so that a new statistic US above expectations, was published at 16h (sales of new homes).

For now, the pair has limited its increase to a peak at 1.1815, moving towards the next resistance zone of 1.1830.

To explain this increase of EUR/USD in the face of statistics to US better-than-expected, it is necessary to turn to the side of rate US, which declined in the face of these figures were better than expected (downside risk), which is mechanically on the Dollar (thus making it less attractive, because less well remunerated).

From a graphical point of view, the rise of this afternoon weakens the profile bearish short-term, but the trend of the funds will remain in our rather negative as the Euro Dollar does not fall back above 1.1830.

In case of return of the downside, first support to consider will be located in 1.18, before 1.1770, and then 1.1750.

Finally, it must not be forgotten that the most important event of the week will be expected tomorrow, with the ECB meeting, which could have a heavy impact on trade, the market is awaiting the announcement of a reduction in QE.

Currently, the EUR/USD pair hovers around 1.1810 on the Forex.

Chart EUR/USD H1
See also our charts EUR/USD in real time.

This chart has been realized with the trading platform TradingStation 2 provided by FXCM France.

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