Forecast for EUR / USD pair on November 30, 2018

EUR / USD pair

On Thursday the euro closed the day with an increase of 26 points. Trading volumes were high and there was a struggle between sellers and buyers. The buyers were exhausted. Now there may be a struggle to work out the nearest target of 1.4444, the MACD line on the daily chart (1.1490) may already be the unattainable goal of the bulls.

Personal incomes of consumers in the US increased by 0.5% in October against expectations of 0.4% while personal expenses increased by 0.6% against the forecast of 0.4%. As a result, the Atlanta Fed has raised its 4th quarter GDP forecast from 2.5% to 2.6%. With the reduction, data on unfinished sales of -2.6% in the secondary real estate market in October came out, but the data are only corrective against the background of production growth.

Today, the eurozone CPI in November will be released with a forecast of 2.1% y/y against 2.2% y/y in October. The unemployment rate in the eurozone could drop from 8.1% to 8.0%. In the US, the index of business activity in the manufacturing sector of the Chicago region is expected to rise from 58.4 to 58.5.

Fixing the price under the MACD line on the four-hour chart (1.1360) will return the euro in a downward trend to 1.1267 and further to 1.1190.

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