If we look in to past history the actual value is more than forecast value most of the time and now forecast value is 56.3 , from past 6 months its more than 56.3 so now as well expecting better value than forecast value so bullish for EUR. Last week we have seen 200 pip rally to continue .The preliminary German PMI, due at 7:30 GMT, should show strength otherwise pair will go down 1.1610 level.
If we look in to past history most of the time actual value is more than forcasted value so bullish for eur.
From a technical perspective, the pair seems to have entered a consolidation phase at the top end of a short-term ascending trend-channel formation on daily chart. With short-term technical indicators still pointing to slightly near-term overbought conditions, and ahead of the key event risk - FOMC decision, the pair's near-term bullish trajectory is more likely to take a pause near the mentioned hurdle, currently near the 1.1700 handle.
If we look in to past history most of the time actual value is better than forcast value so expecting the same so bullish for USD. Bounce in the USD index and Treasury yields put the yen under moderate pressure. The index, however, is coming back from a fresh 1-year low, whilst yields recovered marginally after nearing this year lows, far from looking promising for USD/JPY bulls.
Expecting another negative number for this release so bearish for USD and Oil prices have jumped by more than 1 percent after comments from Saudi Arabia and Nigeria during the Organization of the Petroleum Exporting Countries (OPEC) compliance summit in Russia.Auto sales drove wholesale trade in May. Wholesale transactions rose 0.9 percent beating the 0.5 percent estimates and continue to show a consistent pace of growth for the Canadian economy.
Expecting better value than forecasted value in this time because from past 6 months most of the actual value is less than forecasted value but the actual value is always greater than 100M so expecting better value which is bullish for NZD. Expecting the pair to cross .7450 hurdle because downside remained limited as the sentiment around the US Dollar has turned highly bearish amid the ongoing controversy around Russian meddling in the US Presidential election and market skepticism over the US President Donald Trump's ability to push through pro-growth economic policies.
If we look in to past 2 years history the actual value never crossed 2.1 so expecting the same this time as well which will have negative impact on AUD. There is modest decline in base metals as well so expecting that after this news release the pair may come down below .79 under and currently, the corrective zone is indicated to be circa 0.7820-.7750.
If we look in to past history from actual value is less than forecasted value so bearish for GBP. The preliminary UK GDP print is expected to show that the economy grew at 0.3% q-o-q. A disappointing reading would further dampen expectations of any BOE action in the near-future and could attract some fresh selling pressure around the British Pound.
If we look in to past history most of the time actual value is more than forecasted value so bullish for USD .
From technical point of you support lies at the 1.1600 level where a violation will aim at the 1.1550 level. A break of here will aim at the 1.1500 level. All in all, EURUSD faces further corrective downside pressure on price rejection at 1.650
.Rates are expected to remain on hold and the focus is likely to be on the tone of the statement and on potential signals about the normalization of the balance sheet.It's silly to expect a surprise, especially in the absence of a Yellen press conference so bearish for USD and Pair will go back to 110-111 level.
If we look in to past history the actual value never crossed the 10.6 and so expecting the flat value or less than forcasted value but according to sentiment EUR is very strong but I bet on actual data so bearish for EUR.if actual value is better than forcasted value then pair will easily cross the 1.18 border.