empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

09.10.201905:58 Forex Analysis & Reviews: Forecast for EUR/USD on October 9, 2019

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.

EUR/USD

On Tuesday, the euro retreated from resistance at the Fibonacci level of 138.2% by just over 30 points on concerns over trade negotiations between the US and China, which will begin tomorrow in Washington. There were also rumors about the high likelihood of not concluding a Brexit deal and the EU's readiness to once again give Britain a deferment of the X date. In general, the strengthening of the dollar has a more psychological basis and, as a consequence, is not very qualitative.

Exchange Rates 09.10.2019 analysis

On the daily chart, the signal line of the Marlin oscillator has unfolded from the boundary with the zone of influence of the "bulls", but the double convergence on the oscillator is still valid. It is possible that yesterday there was a market retreat before another attempt to break up.

Exchange Rates 09.10.2019 analysis

On the four-hour chart, the Marlin has infiltrated the decline zone, but the price is firmly held by the support of the indicator lines of balance and MACD. In general, the overall technical picture has not changed; consolidating the price above the Fibonacci level of 138.2% (1.0985) will allow the euro to grow to the MACD line on daily at the price of 1.1042, consolidating the price below the MACD line at H4 (leaving at yesterday's low) will make it possible to attack the signal level of 1.0926, consolidating under which already opens the way from a working target of 1.0845 - to a Fibonacci reaction level of 161.8%.

Laurie Bailey
Analytical expert of InstaForex
© 2007-2024

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off