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Burning outlook: EURUSD — downward movement is exhausted — Forex Stock Trade

Burning outlook: EURUSD — downward movement is exhausted

Burning outlook: EURUSD — the down move is exhausted.

The pair eur / usd short-term interest rates a downward movement, but the downward momentum is exhausted.

Wednesday, new strong data on the u.s. economy is out — durable goods orders have increased over the year + 5.1%, higher than the forecast.

Excluding transportation orders, the growth was even stronger, +6.1% for the year.

«Capital goods» — that is-investment — growth is also strong, + 3.6% for the year, and a revision of the previous, with an increase of + 3.6%

This supported the dollar, but a slowdown of the decline of the euro is observed, even in the context of solid data on the dollar.

It is important to understand that the decline of the EURUSD from 1.2100 to 1.1750 is so far only a correction to the previous several months of growth.

It is very likely that the consolidation of fluctuations of the exchange rate will be in a new range.

Sell 1.1790.

Buy 1.1660.

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