EURUSD Analysis 14.03.2019

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session to see its rebound to its second-highest session since March 5 against the US dollar on the eve of developments and economic data expected Thursday by the Eurozone economies and the US economy. In the world.

At 04:53 GMT, the EURUSD dropped 0.08% to 1.1318, compared to the opening at 1.1327, after reaching a low of 1.1318 during the session, while reaching a high of 1.1337.

The markets for the euro zone's biggest economies are expecting Germany's final reading of the Consumer Price Index (CPI), which may reflect a stable 0.5% growth, unchanged from the January preliminary reading, versus a 0.8% contraction in December. The final reading of the same index for France shows the second largest economy in the region, which may reflect the stability of stability at zero against a contraction of 0.4%.

On the other hand, we have followed yesterday the European Union's Trade Commission, Celicia Malmstrom, that the Union is likely to approve the trade agreement with the United States, amid reaffirming that the Union will respond to any increase in US tariffs on European cars, and in another context, Also yesterday the chief commissioner of the European Union, Michel Barnier, that the Union is ready for the scenario of Britain's exit without agreement.

Barnier also said that the United Kingdom alone is responsible for the decision to leave the European Union and that it is up to her to find a way out of the current impasse. In the same context, German Chancellor Angela Merkel said yesterday that the European Union will not be able to find a way out of the impasse of the exit file of the United Kingdom Of the current European Union alone, amid the demand that the British parliament to tell the European Union what he wants.

On the other hand, markets are looking for the US economy to release the weekly reading of the index of requests for aid, which may reflect a rise of 2 thousand requests to 225 thousand applications, in conjunction with the reading of the index of import prices, which may reflect a rise of 0.3% compared with 0.5% decline in January , Before the new home sales index, which could rise 0.2% to 622K versus a rise of 3.7% at 621K in December.

Technical Analysis

The EURUSD extended more positive trading yesterday and is gradually moving towards our main target at 1.1400. The upside scenario remains effective over the short and medium term, noting that a breach of this level will extend the upside wave to 1.1550 as the next major stop.

SMA 50 supports the expected high, which will remain intact unless the 1.1270 level is broken and stability below it.

The trading range for today is among the key support at 1.1250 and resistance at 1.1420

The general trend for today is bullish