EUR / USD
On Thursday, all the circumstances for the euro were extremely unfortunate. The euro zone's trade balance in September estimate feel from August's 16.8 billion euros to 13.4 billion. Retail sales in the US for October were better than expected - 0.8% versus 0.6% and -0.1% in September. The national currency of Great Britain collapsed by 214 points, but the euro resisted which shows an increase of 17 points.
Events were actively developed on the scale of H4. The price tried to break above the indicator lines of balance and Krusenstern, but the resistance turned out to be moderately strong. The price breakdown was technically halted by the support of the Marlin oscillator boundary line. As a result, we get a free-walk zone of price 1.1263-1.1362. Care prices under the lower limit of the range will increase the price drop to previously identified targets 1.1190 and 1.1110. Data on US industrial production can contribute to this scenario. The forecast for which is 0.2% in the October estimate.
We consider price reduction as the main scenario. In the case of the emergence of new "bullish" factors, the price may go above 1.1362 to the local peaks of the first decade of November - 1.1424.
The material has been provided by InstaForex Company - www.instaforex.com