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08.10.201901:47 Forex Analysis & Reviews: Technical analysis for the week from October 7 to October 12 for the EUR / USD currency pair

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Trend analysis.

This week, the price, moving down, will attempt testing the target level of 161.8% - 1.0919 (yellow dashed line) once again. Although breaking down is unlikely, the market from this level will try to start moving up into a pullback, with the first target 1.0978 - a pullback level of 14.6% (blue dashed line).

Exchange Rates 08.10.2019 analysis

Fig. 1 (weekly schedule).

Comprehensive analysis:

- indicator analysis - down;

- Fibonacci levels - down;

- volumes - down;

- candlestick analysis - neutral;

- trend analysis - down;

- Bollinger Lines - down;

- monthly chart - up.

The conclusion of a comprehensive analysis is a downward movement.

The overall result of calculating the candle of the EUR / USD currency pair according to the weekly chart: the price of the week is likely to have a downward trend with the absence of the first upper shadow of the weekly black candlestick (Monday - down) and the presence of the second lower shadow (Friday - up).

Stefan Doll
Analytical expert of InstaForex
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