04.03.2014 - During this week is expected the increase of volatility of the EUR/USD
Trading week on a pair of EUR/USD is going to be quite eventful. Decrease in quotations of euro during the trading session on Monday was caused by positive macro data from the U.S., which indicated the growth of the manufacturing PMI in the U.S., as well as growth, both in expenditure and income of consumers in the world's largest economy. At the same time, the second half of the week will show increased volatility due to the release of data on the number of new jobs in the private sector (13:15 GMT Wednesday), unemployment rate (Friday 13:30 GMT) and the publication of Beige Book (Wednesday 15 : 30 GMT). On Thursday will be a press conference of head of the ECB, Mario Draghi, on which the central bank will announce plans on monetary policy in 2014. Maybe the price once again will try to overcome resistance at 1.3810, but consolidation above this level is unlikely.
In general, it is worth noting that the reduction of quantitative easing and a higher rate of economic growth in the U.S. than in the euro area, give grounds to predict further strengthening of the U.S. dollar against the euro.
Wish you the profits!
FXFINPRO Capital Analytical department.