FX.co ★ EURUSD: Still going up?

EURUSD: Still going up?

Morning review.

So, the euro on Wednesday turned to growth, reaching 1.1830 by the night.

Ahead of the zone of day levels 1.1860 - 1.1880, with the break of their very likely movement at least to 1.2080.

Today, as everyone remembers, I think. The ECB (decision at 12.45 press conference Draghi 13.30 London time). So a strong move is very likely.

Also today, it is expected almost unilateral (against the position of the Spanish authorities) the proclamation of the independence of Catalonia, the Parliament of Catalonia.

What was important and interesting yesterday (Wednesday 25.10)?

There was a very strong report on orders for durable goods in the US. Simply super-strong. The orders are growing at a rate of + 8% per annum. And including the investment. And "without transport."

It seems that the Federal Reserve managed to crack up the US economy with a super-cheap loan.

But more interesting: This news is a strong support for the dollar, it would seem? And the euro and pound go up.

Further. By night, the Catalonia again said that it would declare independence from Spain. A strong blow to the euro.

And the euro closed the day at the maximum, and the week (current, unclosed) looks strongly upward.

Conclusion? The market wants to buy the euro.

We stand in purchases from 1.1795, stop 1.1750.

We will buy for a breakthrough to the top of 1.1860.

The alternative is to sell for breakthrough 1.1723 down.