On Wednesday, important news from the US was released: inflation for October and retail sales. In general, the news was moderate – inflation did not increase as much, the current level is at 1.8% (excluding gasoline and food) per annum. The Fed has no reason in particular to accelerate the rate hike – the lower threshold of the Fed’s inflation target is +2%. Retail sales grew moderately, which is below forecasts.
Therefore, the news is not in favor of the US dollar. The EURUSD pair showed a sharp growth for Monday and Tuesday. On Wednesday, it showed a moderate pullback.
Conclusion: The momentum of growth for the euro remains. However, buying from the rollback.
Buy from 1.1740 and from 1.1700.
In the event that buying is executed from 1.1700, likely buy from 1.1740, it makes sense to go for a break-even.
The material has been provided by InstaForex Company – www.instaforex.com
Last minute burning forecast 16.11.2017
EURUSD: Buying with the rollback.
On Wednesday, important news from the US was released: inflation for October and retail sales. In general, the news was moderate – inflation did not increase as much, the current level is at 1.8% (excluding gasoline and food) per annum. The Fed has no reason in particular to accelerate the rate hike – the lower threshold of the Fed’s inflation target is +2%. Retail sales grew moderately, which is below forecasts.
Therefore, the news is not in favor of the US dollar. The EURUSD pair showed a sharp growth for Monday and Tuesday. On Wednesday, it showed a moderate pullback.
Conclusion: The momentum of growth for the euro remains. However, buying from the rollback.
Buy from 1.1740 and from 1.1700.
In the event that buying is executed from 1.1700, likely buy from 1.1740, it makes sense to go for a break-even.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: