Trading plan for September 27, 2017
The overall picture: The correction for EUR/USD
The EUR/USD rate, which started on Friday, September 22, continues to decline. The course has already passed more than 250 points in the 4-character.
The cause and impetus of the first decline were the weak results of the Merkel party in the elections in Germany.
The continuation of the decline and the beginning of the tightening of the monetary policy of the Fed. Reducing the balance of the Fed will start in October.
Well, perhaps the main reason for the decline in the euro is the overdue correction to the 6-month growth of the euro from 1.0500 to about 1.2100, even 50% of the retracement is up to 1.1300.
We stand on sale from 1.1860 and while holding sales. Purpose 1.1660.
At 13.30 London time, important news on the US: Orders for durable goods.