16.15 MSK. USA: Change the volume of manufacturing production for August.
EUR forex pair dollar EURUSD forecast for today 17/09/2019
Geopolitical tensions in the Middle East triggered a strong positive trend in the oil market. Interruptions in the supply of hydrocarbons from Saudi Arabia were the most significant in terms of the history. Last time oil supplies fell by 5 million barrels per day in the world of 41 years ago, when the Iranian revolution. Then this factor caused the rapid rise in oil prices, which have tripled in two years. Significant problem, and that oil quotes are now 10% higher than last week, a logical phenomenon. For the euro is a positive signal, since the single European currency is correlated with oil BRENT. Next positive news is the negative macroeconomic statistics from the US industrial production, which will be published today at 16.15 MSK. It should wait for the release of weak data, since the index of business activity in the ISM industry in the last month of summer has dropped below 50%, indicating a severe recession. This factor, in turn, may cause a decrease in yield of US government bonds.
EURUSD recommendation: Buy 1.0980 / 1.0961, and take profit 1.1020