25.09.201311:38 Forex Analysis & Reviews: EUR/USD. Forecast for September 25, 2013

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

On Tuesday, the euro dropped 20 points. The major reason was weak data on Ifo Business Climate Index in Germany. Ifo Business Climate Index in Germany in September was 107.7 vs. forecast for 108.4. US House Price Index grew (HPI in July was 1.0% vs. forecast for 0.9%).

The expectations about increase in US budget ceiling. In particular, Moody’s assumes the agreement on the issue will be reached. And the expectations will rise every day, making pressure on the euro.

Today at 10:00 UTC+4 GfK Consumer Confidence Survey in Germany in October is issued; forecast 7.1 vs. 6.9 in September.

At 16:30 UTC+4 data on US Durable Goods Orders in August is revealed; forecast 0.0% vs. -7.4% in July. At 18:00 UTC+4 data on US New Home Sales in August is disclosed; forecast 422K vs. 394K in July. Thus, we expect the decline of the euro.

When the level of support 1.3462 is broken, we expect pressure to 1.3412, then 1.3387, the high of September 16.

Back to the list

Open trading account

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.