EUR / USD pair
The single European currency with an amplitude of 27 points yesterday, closing the session with a symbolic increase of 5 points. The European Commission rejected the budget plan of Italy, demanding a review within three weeks.
Technically, growth was halted by the MACD line on a four-hour scale with the support of the price channel line on the daily timeframe, which was a little punctured. If the price leaves the MACD line, that is if the price manages to do what was not possible yesterday, the growth may continue to the MACD line already on the daily chart to the mark of 1.2526. In case of successfully overcoming the level of 1.1432, the goal opens to 1.1300.
Indexes of business activity in the United States for October is expected today. Manufacturing PMI is expected to decrease from 55.6 to 55.4 while Services PMI is presumed to increase from 53.5 to 54.1. The forecast on sales of new homes is 627 thousand in September compared to 629 thousand in August. Thus, the euro has little opportunity to break up.
The material has been provided by InstaForex Company -
www.instaforex.com