18.04.2019 06:27 AM
Forecast for EUR / USD pair on April 18, 2019

EUR / USD pair

Good data on the trade balance of the Eurozone came out on Wednesday, which hindered the European currency to fall. Yet, the growth of the euro was limited because of various fundamental reports such as the release of the Fed's "Beige Book" of the Fed, which shows the growth of the labor market, the growth of housing construction, as well as, the general mood of the market did not allow the euro to develop success. The trade balance in the Eurozone for February was 19.5 billion euros compared to 17.4 billion in January, which was revised to increase from 17.0 billion euros. Today, the key data will be the US retail sales for March. Projections are high. The total sales are expected to increase by 0.9% while the base index, excluding car sales, may add 0.7%.

At the moment, the EUR/USD price is on the balance lines of the daily and four-hour charts. The marlin oscillator on H4 even managed to form with the price a moderate divergence. It is highly possible that today's investors will take advantage of a favorable situation to attack the support of the MACD line on a daily basis at 1.1256. On the four-hour chart, the MACD line is even closer to the current price of 1.1268. We are waiting for the euro at the target level of 1.1155.

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Laurie Bailey,
Analytical expert of InstaForex
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