Breaking forecast 10.17.2017
EURUSD under pressure.
The EURUSD rate is under pressure from selling on Tuesday morning. The reasons are: the strong data on the US economy and the gradual acceleration of inflation. Strong data on the growth of industrial production in the US was released on Monday.
The second reason: Madrid's ultimatum to the authorities of Catalonia expires on Thursday. Madrid's tough stance may trigger a new wave of mass protests in Catalonia - and still trigger the Catalan exit mechanism from Spain.
Otherwise, the news background is calm.
Continue with strategy- prepare entry for the breakdown of the range boundaries: buying above 1.1880 and selling below 1.1668.
At the same time, you can act more aggressively: sell from 1.1780 - with a stop-loss at 1.1825 - and in case of a reversal - buy above 1.1825 with a stop-loss at 1.1780.
