FX.co ★ Last minute burning forecast 02.11.2017

Last minute burning forecast 02.11.2017

EURUSD: The decline is at a halt. Potential buying.

On Wednesday, there were many important news on the US - the Fed decision (monetary policy unchanged), private employment report from ADP (+235K new jobs), ISM industrial production index +5.8.7 - slightly lower than forecast, but strong data.

In general, the data on the US is strong - but in fact we see that the EURUSD exchange rate has not only not declined, but even failed to test the last low at 1.1575.

Conclusion: The decline is over, with no small probability, there is potential in buying.

We buy from 1.1660 - with the target of 1.1760. A stop-loss at 1.1615.

Alternative plan: Selling for a breakdown below 1.1574.