For Traders

Analytical Reviews

Technical analysis

28.10.201905:37 Forex Analysis & Reviews: Forecast for EUR/USD on October 28, 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

The euro fell by 24 points last Friday, finding the resistance of the price channel at the peak of the day quite strong. The downward movement stopped exactly at the Fibonacci level of 123.6%. Now the immediate goal of the euro is to support the MACD line at around 1.1025. The Marlin oscillator is dropping steeply enough to form a reversal peak.

On the four-hour chart, Friday's top coincided with the MACD line, which further strengthened the resistance. Leaving the price under the first target level opens the second target of 1.0985 - the Fibonacci level of 138.2%.

Back to the list

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.