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  4. EUR/USD is waiting for USD Core Durable Order news

EUR/USD is waiting for USD Core Durable Order news

September 28, 2016 13:12

The EUR/USD is in a range mode waiting for Cored Durable Order data that is scheduled for 12:30 GMT. It represents the change in the total value of new purchase orders placed with manufacturers for durable goods. If the result is better than expected USD should gain strength and it could be astraight drop from current levels. Bad result could see EUR/USD retracing towards POC within 1.1230-40 zone where we can see confluence of 61.8 and inner trend line. The zone might reject the price towards 1.1188 as the higher time frame trend is bearish. Only a 4h close below 1.1188 should spike the price further down towards 1.1150 and 1.1080. If bears fail to tank the price, a bullish spike above 1.1260 might lead the pair to 1.1300.

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