empty
 
 
04.10.2018 09:30 AM
Forecast for EUR/USD for October 4, 2018

EUR/USD

On Wednesday morning, the euro rose slightly on the news of Italy's readiness to revise its high budget deficit for the coming year. But then, under strong economic data from the US, the euro continued to decline. In the US private sector, according to ADP estimates, 230,000 new jobs were created in September against the expectation of 185,000. Business activity in the service sector in the final assessment from Markit for September was increased from 52.9 to 53.5. In the evaluation of the ISM Institute, Non-Manufacturing PMI business activity increased from 58.5 to 61.6. The head of the Federal Reserve Bank of Chicago, Charles Evans, announced a likely rate hike in December. The head of the US central bank Jerome Powell said that the current rate is still far from the hypothetical neutral rate. As a result, the euro fell by 68 points.

On the daily chart, the price is almost fixed under the embedded trend line of the price channel and the indicator trend line. Formally, the way to 1.1300 is open. But one thing interferes – on the four-hour chart, a double convergence of the Marlin oscillator with the price has formed, perhaps the price will still compete with the resistance of the day time.

This image is no longer relevant

This image is no longer relevant

Today, the volume of factory orders in the US for August is expected to grow by 2.2% against -0.8% in July. If the data does not fail, we can expect a further decline in prices. Tomorrow important data on employment will be released, unemployment is expected to decrease from 3.9% to 3.8%, monthly wage growth by 0.3%. We expect a decline to 1.1300 and further towards 1.1200.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback