Trading plan 09 - 10/13/2017

Trading plan 09 - 10/13/2017

This week has unproductive news. Monday is the US Columbus Day.

The important point of the week is Friday which is the released of inflation data in the US. On Wednesday is the publication of Fed "minutes" but the policy of the Fed is very open and the probability of a surprise is not high.

EURUSD: We are preparing for a breakthrough in the range.

EUR/USD has stopped in a narrow range which would likely have a breakthrough of borders with a strong movement.

On Monday, a dull trade is possible and it is a holiday in the US (Columbus Day).

The direction of the movement is difficult to determine. On Friday, the data on the labor market from the US came out strongly contradictory.

The number of new jobs decreased by 33 thousand and expected to grow by 100 thousand. Because of the strong hurricanes that hit in September. At the same time, the unemployment rate fell to 4.2%.

The overall picture in the euro area is also unclear.The tension of Catalonia in Spain seems to decrease slightly, but the mutual threatening statements from the authorities of Catalonia and Spain continues.

We are ready to take positions towards the movement direction with a breakthrough:

Upward - 1.1790 level.

Down - 1.1668 level.


The material has been provided by InstaForex Company -