Last minute burning forecast 02.11.2017
EURUSD: The decline is at a halt. Potential buying.
On Wednesday, there were many important news on the US - the Fed decision (monetary policy unchanged), private employment report from ADP (+235K new jobs), ISM industrial production index +5.8.7 - slightly lower than forecast, but strong data.
In general, the data on the US is strong - but in fact we see that the EURUSD exchange rate has not only not declined, but even failed to test the last low at 1.1575.
Conclusion: The decline is over, with no small probability, there is potential in buying.
We buy from 1.1660 - with the target of 1.1760. A stop-loss at 1.1615.
Alternative plan: Selling for a breakdown below 1.1574.
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