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Business / Finance

Fundamental analysis of the Forex market - Italy vs Eurozone

FreshForex news RSS 13.11.2018 at 05:03

News Forex from FreshForex

EURUSD - Up

Events that should pay attention today:

12.30 GMT. UK: changes in the level of average earnings for September (previous value of 3.1% 3M/y; forecast of 3.1% 3M/g).

EUR/USD:

during the day is expected to fall in the single European currency, as traders are once again concerned with the opposition of the Italian government and the European Commission. The Commissioner for Finance Pierre Moscovici declared yesterday that does not support the project of the Italian budget, which envisions a deficit of 2.4% of GDP – should not exceed two percent. The Italians don't want to save and ready for the conflict with the European Commission. According to the CFTC over the last week-end investment funds 4 times increased sales of the Euro. This is a strong signal of decrease in quotations. At the same time, usually this is followed by a correction upwards. Whether punched psychological level of 1.10 this week? I think not. However, we expect high volatility in the next three days.

Trade recommendation: Sell 1,1252/1,1271 and take profit 1,1210.

Invite you to discuss these issues on the webinar, which will be held today at 10.30 GMT.

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