empty
 
 
17.08.2017 09:22 AM
EUR/USD: Ready for growth.

EUR/USD: Ready for growth.

Morning review.

Minutes of the Fed and Eurozone GDP are in favor of the euro.

On Wednesday, August 16, the euro showed a reversal to growth. Having made a false break down to 1.1685, a sharp reversal and an increase of 1.1780.

At the level of 1.1680, a very strong "bottom" is formed. The pair is ready to attempt a breakthrough to the upper daily level of 1.1850 and then the weekly level of 1.1910.

What was the impetus? Eurozone GDP grew above the forecast + 2.2%. All analysts note the acceleration of the growth of the EU economy, in contrast to a clear slowdown in the US. This shifts investor attention to assets in euros.

"Minutes" of the Fed on Wednesday showed that many representatives of the Fed noted a slowdown in inflation. A clear excuse not to rush in raising rates. At the same time, the Fed believes that this phenomenon (price slowdown) is temporary.

We are now in the purchase of 1.1760 but subject to a down turn, we will sell from 1.1680.

This image is no longer relevant

Jozef Kovach,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • 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 $1000 more!
    In April we raffle $1000 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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback