FX.co ★ Trading plan for EUR / USD as of 04/03/2018

Today, the final data on the index of business activity in the manufacturing sector of Europe are coming out, which should coincide with the preliminary estimate, which showed its decrease from 58.6 to 56.6. Such a significant reduction has already been taken into account by the market, and if the data coincides with the preliminary, then the market will not react much to this. But in the US, sales of vehicles are expected to decrease from 17.1 million to 16.9 million, which will have a negative impact on the dollar.

The EUR / USD currency pair continues to fluctuate within 1.2280 / 1.2345, after the quotation has approached the range support level of 1.2270 (1.2240 / 1.2270). It is possible to assume that the current fluctuation remains within the specified limits, but if the price is fixed above 1.2350, one can assume a change of trade forces in the direction of 1.2400.