empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

11.10.201309:50 Forex Analysis & Reviews: EUR/USD. Forecast for October 11, 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.

Data on Europe continues to be weak. Industrial Production in France in August grew 0.2% vs. forecast for 0.7%. Italy’s Industrial Production dropped 0.3% vs. forecast for 0.6%.

During yesterday’s speech, Mario Draghi tried to be neutral; however, amid weakening economic indicators he was forced to admit the perspectives of further deterioration of the economic situation. In the US the White House and the Congress have not come to an agreement yet. Republicans are ready to make some concessions. Today the talks continue. We suppose that data issued today has little importance.

 

From the technical point of view, on the H4, the triangle has been formed; its break to the upwards may lift the price to the range 1.3549/65. As far as agreement on the budget may be reached during the weekend, the investors possibly prefer to close the buys. We regard the alternative with the break of support of trend line on the H4 1.3497 and downward movement to 1.3452, the high of August 20 and lower to 1.3396, support on the daily time frame as the major scenario.  

Exchange Rates 11.10.2013 analysis

Exchange Rates 11.10.2013 analysis

 

Laurie Bailey
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off