Stay 
Trading Conditions
Products
Tools
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.
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.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
