Breaking forecast 10/11/2017

Breaking forecast 10/11/2017

Catalonia fueled the rise of EURUSD.

On Tuesday evening, the head of Catalonia said that he was postponing proclamation of independence. The embers of the Catalan Parliament signed a declaration of independence - but it has no legal force. The authorities of Catalonia withdrew, faced with strong resistance from both the Spanish authorities and opponents of independence inside Catalonia - both among citizens and among businesses.

The EU firmly stated that it would not accept Catalonia in the EU if the exit from Spain would not be backed by an agreement with Madrid.

One way or another, the dissolution of the crisis around Catalonia has strengthened the euro. The EURUSD rate touched the significant level of 1.1835 on Wednesday morning and is now being corrected.

It is expected that EURUSD will rise to the target of 1.1980. Buy euro for this target.

Alternative and signal cancellation - breakthrough down 1.1668 - from this level, sell.

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The material has been provided by InstaForex Company - www.instaforex.com