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16.10.201812:45 Forex Analysis & Reviews: Forecast of EUR / USD for October 15, 2018

Long-term review

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EUR / USD

On Friday last week, after a prolonged struggle in the stock markets, indices closed the day with growth: S & P500 1.42%, Nasdaq 2.29%. The main news is the desire of the United States to once again declare China a currency manipulator. Euro Friday closed down by 33 points, today the opening of the market occurred with a decreasing gap of 17 points. To continue the decline towards the targets of 1.1376 and 1.1300, the price needs to be fixed below the indicator trend lines on H4 and daily, this is the range of 1.1516 / 20, which coincides with the correction level of 23.6% on H4. While this is not there, the price will try to close the morning gap with an increase of 38.2% (1.1579) to the Fibonacci level, which can result in a turn of the Marlin signal line from the zero line slightly upwards.

Today, there are indicators for retail sales in the United States. The total retail sales for September is expected to increase by 0.7% (the increase is above average), basic sales (excluding transport) are expected to be 0.4%. The index of business activity in the manufacturing sector of New York in October is projected at 20.4 points against 19.0 in September. If the data does not fail, our lowering scenario will get a greater likelihood of implementation.

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