Will EUR/USD skyrocket continue and 1.15 price area is on the way ?

EUR/USD price technical analysis update

According Mario Draghi, President of the ECB, at the ECB Forum on Central Banking, Sintra, 27 June 2017 there are parameters to improving economic conditions, we have now enjoyed 16 straight quarters of growth, with the dispersion of GDP and employment growth rates among countries falling to record low levels. If one looks at the percentage of all sectors in all euro area countries that currently have growth, the figure stood at 84% in the first quarter of 2017, well above its historical average of 74%. Around 6.4 million jobs have been created in the euro area since the recovery began.
The unemployment gap – the difference between actual unemployment and the non-accelerating inflation rate of unemployment (NAIRU) – is narrowing and is forecast by the Commission to close within the next two years. Surveys of business capacity utilization are now above their long-term average levels. And inflation is recovering. Between 2016 and 2019 we estimate that our monetary policy will have lifted inflation by 1.7 percentage points, cumulatively.
we do observe that, as the recovery strengthens, the supply of labor is rising too. Labour force participation has been growing consistently over the last few years


From technical view We can two things:

You can clearly see the long stretch of the Euro that has been in place since May
Hacking, or breaking the price of the down-price of the price belt, will lead to a move of the same magnitude as the range
Which means that the target from the breakout is 1.1430-1.1460 +
Second, there is even bigger price belt in the eurusd since January 2015 – there is major serious obstacle in the upper bounds who located in the same price area target as section 1 – that’s mean  1.1460+_ price area

COT position map:

Look on the marks, we can see increasing trend on long position since January 2016 who brought activity to the eurusd moves…, wonder where is the top ….  


This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice


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