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03.10.201701:15 Forex Analysis & Reviews: Burning forecast 10.02.2017

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Burning forecast 10.02.2017

EURUSD falls in Catalonia.

In the morning, the EURUSD fell sharply on the news of the crisis of relations between Catalonia and Madrid (a referendum on the independence of Catalonia, declared illegal by the Spanish authorities and caused dispersals, detentions).

Given that Spain is the 4th biggest economy in the eurozone, it is sensitive for the euro.

In the evening, data on the US economy for September was released. The ISM Industrial Index was +60, higher than the forecast - this is in favor of strengthening the dollar.

Recommendation: Sell EUR/USD at breakthrough 1.1715 (stop-loss 1.1760 take-profit 1.1615).

The signal of cancellation of selling and a turn - on a breakthrough of the euro above 1.1835 - in this case, we put an order to buy the euro above 1.1835.

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