EUR/USD
The euro also moved in the direction of growth under the influence of the powerful growth of the British pound on Wednesday,. It can be observed that the price is fixing over the indicator line of the balance on the daily chart. While the Oscillator Marlin indicates growth. The target is the range 1.1750-1.1822. But not all appears unclear. According to the 4-hour chart, the price failed to go above the resistance of the trend line (blue), and the price returned under the balance line this morning. On this rising correction from the decline of August 28 - September 4 may be completed. And in this case, the target will be the support of the trend line of the price channel at 1.1524.
Forecasts on macroeconomic statistics did not give hint in the preferred scenario of the price. The industrial volume orders in Germany for July is expected to grow by 1.8%, but the previous fall was -4.0%. In the United States, the volume of factory orders may decrease by 0.5% against the previous growth of 0.7%. ISM Non-Manufacturing PMI for August is expected to increase from 55.7 to 56.8. The new jobs created in the private sector from ADP in August is expected at 195 thousand against 219 thousand in July. Perhaps, investors will also not rush to choose tactics of action until tomorrow's labor data in the United States. With a calm scenario, the support line is the balance line on daily (1.1606), also slightly below the July 19 low of 1.1575, the resistance is the blue trend line at H4 (1.1663).
* The presented market analysis is informative and does not constitute a guide to the transaction.
