Free Forex Trading Signals: EURUSD April 2014

It has been a while since our last Forex trading signal. The previous signal on EURUSD predicted a bullish market, and it proved accurate. The current TCI Forex signal also focuses on EURUSD. TCI forecasts the uptrend will continue, but the data does not show a clear, strong trend yet.

Forex Asset: EURUSD

• TCI Forecast: Uptrend continuation (↑) for two more trading days, followed by a correction (↓). See the TCI table below.

---

EURUSD Macroeconomic Outlook

Here are some key points about the Euro and the US Dollar:

High demand for the new 5-year Greek bond boosted confidence in the Eurozone. The $4.2 billion bond sale offered a 4.75% coupon, with 90% of bonds bought by long-term investors.

At the IMF spring meetings, Mr. Benoit Coeure, ECB executive board member, said: “The stronger the Euro, the more need for monetary accommodation.” He added that while the ECB does not target a specific Euro exchange rate, the Euro’s value is important because it directly affects inflation in the Eurozone.

Regarding the US Dollar, the Federal Reserve expects USD interest rates to remain stable until early 2015. This disappointed some investors who expected a rate increase in the first half of 2014.

---

EURUSD Technical Analysis

Last week, the Euro was strong against the US Dollar but failed to hold above the key supply level of 1.39.

• Short-term supply level: 1.393
• Short-term demand level: 1.386

Chart: The Euro against the US Dollar

---

EURUSD Statistics

Here are the statistics for EURUSD based on 13.5 years of research by TradingCenter. April is traditionally a strong month for the Euro against the US Dollar, while May usually brings a correction with high daily volatility.

Table: EURUSD Stats

MONTH	AGGREGATE EURUSD RATE CHANGE (%)	AVERAGE EURUSD CHANGE	TIMES (↑↓)	AVERAGE EURUSD DAILY VOLATILITY
MARCH	3.68%	0.26%	7↑ 7↓	0.859%
APRIL	10.10%	0.72%	7↑ 7↓	0.834%
MAY	-7.28%	-0.52%	6↑ 8↓	0.923%

---

TCI on EURUSD

The Trading Center Indicator (TCI) is a unique Technical Analysis Indicator developed by Giorgos Protonotarios and TradingCenter. ► More About TCI

Here are the current TCI indications for EURUSD. TCI predicts a short-term uptrend lasting 2 more days, followed by a possible correction. While there is an ongoing uptrend, it isn’t very strong. In this context, important news will again play a key role in what happens next with EURUSD.

Table: TCI on EURUSD

Date	Close	Volume	Price (%)	Volatility (%)	TCI
2014.04.01	1.37914	98741	0.17%	0.3%	0.93%
2014.04.02	1.37656	94091	-0.19%	0.5%	0.18%
2014.04.03	1.37181	119239	-0.35%	0.8%	-0.47%
2014.04.04	1.37009	93536	-0.13%	0.4%	-1.06%
2014.04.07	1.37399	58471	0.28%	0.4%	-0.59%
2014.04.08	1.37955	117344	0.40%	0.5%	0.26%
2014.04.09	1.38536	105756	0.42%	0.6%	1.13%
2014.04.10	1.38842	114642	0.22%	0.5%	1.33%
2014.04.11	1.38829	104117	-0.01%	0.3%	1.41%
(+1 Trading Days) April, Monday 14th					1.24%
(+2 Trading Days) April, 15th			LOCAL HIGH		1.44%
(+3 Trading Days) April,16th			POSSIBLE CORRECTION		1.10%
(+4 Trading Days) April, 17th					0.88%
(+5 Trading Days) April, 18th			LOCAL HIGH		1.17%
(+6 Trading Days) April, Monday, 21st			CORRECTION STARTS		1.13%
(+7 Trading Days) April, 22nd					1.08%
(+8 Trading Days) April, 23rd					0.54%
(+9 Trading Days) April, 24th					0.56%
(+10 Trading Days) April, 25th					0.59%
(+11 Trading Days) April, Monday 28th					0.50%
(+12 Trading Days) April 29th					0.23%
(+13 Trading Days) April 30th					0.37%
(+14 Trading Days) May 1st					0.28%
(+15 Trading Days) May 2nd					0.38%
(+16 Trading Days) May Monday 5th					0.31%
(+17 Trading Days) May 6th					0.70%
(+18 Trading Days) May 7th					0.72%

 

George Protonotarios, Financial Analyst (April, 13th 2014)

■ Free Forex Trading Signals: EURUSD

TradingCenter (2014)