At Thursday, October 10, trading in the euro / dollar closed higher. During the European session, the euro rose to 1.1034. The demand for the US dollar fell on optimism of investors in the US and China for trade transactions. Market participants expect the conclusion of the Interim Agreement.
Chinese Vice Premier Liu Hye said on Thursday that China is willing to reach an agreement with the United States on issues of concern to both sides, to prevent friction, leading to a further escalation.
In the American session a couple of euro / dollar crushed, due to the collapse of the cross of the euro / pound. Price adjusted to 1.1034 to 1.1002. In this case, the pound was up 250 points. The pound showed an increase of 2% on hopes for solution to the problem with Brexit. Irish Prime Minister Vardakar said Thursday that Brexit agreement could be reached by the end of October, to allow the UK to leave the EU in an orderly.
Planned statistics (GMT + 3):
At 15:30 Canada will report on changes in the unemployment rate and the number of employed in September, will release the index of import prices in September.
At 17:00 in the US will be released consumer confidence index from Reuters / Michigan in October.
At 20:00 Baker Hughes will publish a report on the number of active drilling rigs for oil production.
Current Situation EURUSD:
EURUSD expectations of yesterday's day were completely justified. On the good news, the price rises above the forecasted level of 1.1013.
Friday will conclude the negotiations between the US and China. Macro receded. All market participants, except for traders trading on technical analysis, care about the outcome of negotiations. No one knows what they will be finished, but the forecast for today, we have considered the profit taking buyers on long positions. Buy expectations - sell the facts.
According to the forecast EURUSD move forward to 1.1028 and then to 1.0988 EURUSD decline. According to yesterday's volume profile, we have identified an imbalance 1,0990-1,1005 area. Level 1.1005 is VAL. We believe that if he can not stand, the EURUSD will quickly return to a level of 1.0990.
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