Forecast for EUR / USD as of September 26, 2018


The euro closed yesterday's growth by 19 points mainly due to the growth of the British pound, which added 60 points on a new rumor about the EU's readiness to give Britain a free trade zone after leaving the bloc. The price continued consolidation in the range of 1.1750-1.1832.

Economic data for the US as a whole came out good, but the S & P500 closed the day down by -0.13%. Perhaps, the stock market is already tired of growing against the background of a rapid increase in rates, and if so, after today's Fed rate hike from 2.00% to 2.25%, the stock market will go into correction, which will support the dollar as a safe haven. The index of consumer confidence in the US from the Conference Board for September increased from 134.7 to 138.4, the index of business activity in the manufacturing sector of Richmond for September increased from 24 to 29. The index of house prices in July rose by 0.2%.

Today, sales of new homes in the US for August are expected to increase to 630 thousand from 627 thousand in July. In the evening, at 19:00 London time, the Fed raises the rate by a quarter point to 2.25%.

In the way of price movement, there are three support down: 1.1700 - the Krusenstern trend indicator line on the four-hour chart, 1.1660 - the balance line on daily, 1.1508 - the trend line of the price channel on daily, coinciding with the Kruzenshtern line on the same chart.



The material has been provided by InstaForex Company -