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06.10.202014:26 Forex Analysis & Reviews: EUR/USD analysis for October 06 2020 - End of major downside correction and fresh new up swing in creation towards 1.1880

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Pelosi said to say stimulus talks are going 'very slowly'

The report says that talks between Pelosi and Mnuchin are going 'very slowly', citing a source from Pelosi's conference call with Democratic leaders. There's not much else besides this but at least negotiations are still ongoing for later in the day.

The market built up some optimistic hope about talks going somewhere to start the week, so let's see if Pelosi and Mnuchin will meet those expectations.

As I discussed in the previous review, the EUR managed to complete the major downside correction ABC on the daily and it is ready for the new upside swing.

Further Development

Analyzing the current trading chart of EUR, I found that buyers are in control and that we got breakout of 3-day balance in the background.

1-Day relative strength performance Finviz

Based on the graph above I found that on the top of the list we got Gasoline RBOB and Nautral Gas and on the bottom Cocoa and VIX.

EUR is positive on the relative strength list...

Key Levels:

Resistance: 1,1880

Support level: 1,1700

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