Forecast for EUR/USD for October 2, 2018
October 3, 2018 2:21 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
- EUR/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURGBP maintains bearish bias amid pennant formation April 17, 2024
- EUR/USD. April 17th. Jerome Powell supports the dollar April 17, 2024
- GBP/USD. April 17th. Inflation in Britain is falling, but not as much as the market wants April 17, 2024
- Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets April 17, 2024
- Video market update for April 17, 2024 April 17, 2024
- Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin and Ethereum from Sebastian Seliga April 17, 2024
- Technical Analysis – Gold struggles to jump above 2,400 April 17, 2024
- GBP/USD: trading tips for beginners for European session on April 17 April 17, 2024
EUR/USD
On Monday, the euro fell by 25 points. Canada joined the trade agreement on the updated NAFTA, now this association is called USMCA. And that’s a victory for Trump. The contract will be signed on November 29-30. Perhaps the strengthening of the dollar would have been more significant if economic indicators had not failed. Construction spending in the US in August increased by only 0.1% against the forecast of 0.5%, business activity in the manufacturing sector in the ISM estimate for September fell from 61.3 to 59.8 points. According to Markit Manufacturing, PMI remained at the previous value of 55.6. In the eurozone, the unemployment rate fell to 8.1% from 8.2%.
Today, the main event may be the speech of the Fed chief Jerome Powell (16:45 London time) on inflation and employment. Obviously, monetary policy will have an important place in this speech, as the Fed’s main focus are the areas of employment and inflation. At the moment there are no risks in these areas, the speech can be neutral and optimistic.
On the daily chart, the price slides along the balance line. Formally, the balance is neutral. But the line itself is directed downwards, which indicates a balance striving towards lower levels; conventionally, the price balance can be around 1.1500, where the trend line of the price channel and the indicator line of the trend converge at one point. Overcoming the price of this key mark opens up significant prospects for its further decline (1.1100).
On the four-hour chart, the signal line of the Marlin oscillator has grown slightly, but in this situation it can be interpreted as discharging the indicator before further decline.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: