EURUSD Analysis 17.04.2019

The single currency of the European Union region rose during the Asian session to rebound to a sixth session in its 12th session since March 7 when its lowest since June 26, 2017, was tested against the US dollar on the brink of economic developments and data. On Wednesday by the euro-zone economies and the US economy, the world's largest economy.

At 04:57 GMT, the pair rose 0.20% to 1.1303 compared to the opening at 1.1281, after reaching the highest level at 1.1304, while reaching a low of 1.1279.

Investors are currently looking for eurozone economies as a whole to unveil the seasonally adjusted current account index, which could reflect a contraction of the surplus to € 33.2 billion from € 36.8 billion in January, in conjunction with Italy's third- The region's economies, which could explain the widening surplus to € 2.62 billion from € 0.32 billion in January.

The markets are also looking to reveal inflation data for the Euro-zone economies as a whole with the annual Consumer Price Index (CPI) final reading, which may reflect a 1.4% growth instability, unchanged from February's preliminary reading and 1.5% January, and the core annual reading of the index itself may show a 0.8% growth stability versus 1.0% in January.

This comes in conjunction with the release of trade balance reading for the Euro-Zone economies as a whole, which may indicate a contraction of the surplus to 16.8 billion euros compared to 17.0 billion euros in January. Otherwise, we have followed Tuesday, the President of the European Council Donald Tusk and the President of the Commission European Union President Jean-Claude Juncker expressed his hope that Britain would use its exit date from the EU to the end of October to reach an exit agreement.

On the other hand, investors are waiting for the US economy to read the trade balance, which may reflect a widening deficit to $ 53.5 billion versus $ 51.1 billion in January, before we see the final reading of the Wholesale Inventories Index, which may show a slowdown Growth to 0.4% compared to 1.2% in the preliminary reading for February and the previous reading for January.

The Federal Open Market Committee (FOMC) and Federal Reserve Bank of England Chairman James Pollard on economics and monetary policy at the Hyman Minsky Conference, hosted by Cool College in New York, before we see the publication of the Beige Book report, FOMC Meeting.

Technical analysis:

The EURUSD pair has not seen any strong movement in the past sessions to continue moving around SMA 50, and as long as the price is stable above 1.1235 and 1.1180, the upside scenario will remain intact for the next period, At 1.1350 and extending to 1.1443.

The trading range for today is expected among the 1.1220 support and 1.1400 resistance.

The expected general trend for today: temporarily bullish.