EUR/USD Price Speaking Factors
EUR/USD trades close to the October excessive (1.1180) forward of the ISM Non-Manufacturing survey, and the trade fee might make one other try to check the August excessive (1.1250) because the Relative Energy Index (RSI) continues to trace the bullish formation carried over from September.
EUR/USD Correction Stays in Focus Forward of ISM Non-Manufacturing
EUR/USD might stage a bigger correction because the Federal Reserve cuts the benchmark rate of interest for the third time in 2019, and recent knowledge prints popping out of the US might gasoline the advance from the yearly-low (1.0879) because the shift in commerce coverage drags on the financial outlook.
The response to the ISM Manufacturing survey leaves the US Dollar vulnerable to the weak spot in enterprise sentiment, and the gauge for service-based exercise might set off an analogous response if the index fails to fulfill market expectations.
In flip, the Federal Open Market Committee (FOMC) might proceed to reverse the 4 fee hikes from…