Daily Forex Reports | by alpari.com | Friday, 30 October 2015 07:31 UTC
On Thursday, the euro/dollar shot upwards without updating the minimum. The fixation of profit led to a fall in the dollar rate against many pairs. I did allow for such a scenario. The dollar weakened in the second half of the day after weak US Q3 GDP results and the same for the housing market numbers in the country. The euro/dollar renewed to 1.0985.
The preliminary number for US GDP in Q3 of 2015 was set at 1.5% (forecasted: 1.6%, revised: 3.9%).
The index for incomplete housing sales in the US fell by 2.3% (forecasted:1.0%, previous: -1.4%).
Main news of the day:
In Asia the euro/dollar has shifted its maximum to 1.0997. The balance line was reached and in doing so the euro fell to 1.0965. I suppose that the euro is set to fall against the dollar until the end of the day. Of today’s news: it’s worth picking out Canadian GDP and Eurozone inflation figures.
The euro/dollar is trading by the LB. The MA line is heading downwards, so on my forecast I’ve gone for a weakening of the euro. If we see a break of 1.1005, stave off sales.
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