{"id":97383,"date":"2016-10-27T07:18:45","date_gmt":"2016-10-27T11:18:45","guid":{"rendered":"http:\/\/countingpips.com\/?p=97383"},"modified":"2016-10-27T07:18:45","modified_gmt":"2016-10-27T11:18:45","slug":"expected-fall-for-eurusd","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2016\/10\/expected-fall-for-eurusd\/","title":{"rendered":"Expected fall for EUR\/USD"},"content":{"rendered":"
October 27, 2016<\/div>
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By\u00a0Gabriel Ojimadu, Alpari<\/strong><\/p>\n<\/div>\n<\/div>\n

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

On Wednesday as part of a correctional movement, the euro\/dollar rose to 1.0947. The pair then dropped from this maximum after US stats came out. The values for the business activity index in the service sector and primary market housing sales in the US exceeded expectations. By trade close in New York, the euro had fallen to 1.0900 and to 1.0892 on Thursday in Asia.<\/p>\n

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

Since the daily picture is still bearish, after an upward correction we can consider a downward impulse. In my forecast I\u2019ve gone for a fall to 1.0868. Market participants are waiting for the first US GDP assessment for Q3. The report will be out on Friday. Before the FOMC meeting on 2nd<\/sup> November, the data will have real significance for the US Fed and will have a real effect on the movements of key pairs. According to the latest data from CME Group FedWatch Tool, the likelihood of an interest rate hike in December is 78.3%.<\/p>\n

Day\u2019s News (GMT+3):<\/em><\/strong><\/p>\n