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Business / Finance

The foreign exchange market. The Euro will rise long

Forex Club 25.07.2017 at 15:16

EUR/ USD reached a high not seen since Aug 2015, and for the occasion is used any suitable event. This time worked perfectly the weakness of the dollar.

the Day it became known that business activity index in the service sector Philadelphia USA have fallen sharply to 23.4 vs 33,6 informed. A new orders at all left on negative territory: -0.1 to 19.7. The report itself is not one to pay much attention. But before the FOMC meeting and amid a series of disappointing data this just was the last straw.

In conditions when the market does not believe that the fed will go for another increase, and hopes that ECB is about to begin to minimize the program of quantitative easing EUR/USD has all chances to continue growth.

the Next target for the EUR/ USD may be the mark 1,1720, and the current correction offers an attractive entry point.

Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes and do not guarantee results.

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Not found economic events 2017-07-26 on 2017-07-26

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