EURUSD - morning review 10/19/2017

The EUR/USD pair is moving higher.

Morning review.

The Federal Reserve's Beige Book report did not give any support to dollar bulls.

On Wednesday, the FRS Beige Book released a report on the state of the US economy based on the regional report on the banks under Fed. All the words in the text are very soft - "dovish" that completely dominates the current policy of the Fed. The labor market is strong, but inflation did not increase. Hence, the growth is moderate and very mild.

Now, this questions the EUR/USD pair regarding the decisions of the ECB next Thursday on October 26. It is best to be prepared from the hints of the ECB about the Quantitative easing program where it will be reduced from 60 billion euros a month to 30 billion from January 2018.

Thus, the euro began to rise yesterday.

Sales from the level of 1.1780 were turned into purchases from the level of 1.1780 with the stop-loss placed at 1.1735.

The main question is whether the course will go up to the daily order level of 1.1880. This will open the way to the level of 1.1980 and further towards 1.2100.

The alternative is selling this pair from the level of 1.1728 and selling for a breakdown at the level of 1.1668.


The material has been provided by InstaForex Company -