{"id":97233,"date":"2016-10-25T07:19:37","date_gmt":"2016-10-25T11:19:37","guid":{"rendered":"http:\/\/countingpips.com\/?p=97233"},"modified":"2016-10-25T07:19:37","modified_gmt":"2016-10-25T11:19:37","slug":"eurusd-technically-ready-for-drop","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/10\/eurusd-technically-ready-for-drop\/","title":{"rendered":"EUR\/USD technically ready for drop"},"content":{"rendered":"
October 25, 2016<\/div>
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By\u00a0Gabriel Ojimadu,\u00a0Alpari<\/strong><\/p>\n

Previous:<\/em><\/strong><\/p>\n

On Monday 24th<\/sup> October, the euro\/dollar closed close to its opening level. During European trades the euro gained against the USD to 1.0900. It missed out on reaching the calculated level by 11 points. The rate returned to 1.0870.<\/p>\n

The American statistics supported the dollar. The index for business activity in the manufacturing sector in the US from Markit rose to 53.2 from a September value of 51.5.<\/p>\n

Market expectations:<\/em><\/strong><\/p>\n

The hourly indicators offloaded for Monday. The price is at the balance line, so now we can shift to 1.0830. There are no important stats expected today. Although in the evening Draghi and Carney are expected to speak. Again, they have a real effect on the market after their respective central bank meetings. Since the market\u2019s memory doesn\u2019t extend past three days, participants won\u2019t remember and will sell euro before Draghi speaks.<\/p>

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