Masoud EUR/USD Forecast November 4




Hello koala king and folks.

Good day to you.

The number of unemployed in Germany rose slightly for the third consecutive month. It was reported that the decline in economic growth and job loss is due to the end of the summer season. However the average unemployment rate in the euro zone’s top economy still remained at 6.9 percent.

The second and last day policy meeting of the US Federal Reserve ended with a statement on the economic conditions in America. There was no change to the bank’s economic stimulus program and it was extended to 2014. Meanwhile interest rates remain close to zero (between zero and 0.25 percent) and the central bank’s policy of buying bonds of eighty-five billion dollars a month will be continued.

Spain’s economy grew 0.1 percent in the third quarter as observed from data released. Despite the crisis-hit country being out of recession, putting the country on track to real growth remains doubtful by many experts. The fourth largest economy of the euro zone has the highest unemployment rate in the area after Greece. The unemployment rate among the youth of this country has reached 54.39 percent.

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Technical perspective: As you can see in the above picture, EUR/USD has been in a rising channel. On the other hand, EUR/USD is close to a support area as well as the bottom line channel. I would have to wait for the market reaction to the support line.

Have a nice time.

Masoud.

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