For Traders

Analytical Reviews

Technical analysis

14.10.202005:01 Forex Analysis & Reviews: Forecast for EUR/USD on October 14, 2020

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 S&P 500 lost 0.63% on Tuesday, on the news that Johnson & Johnson's anti-skin vaccine trial was suspended due to severe side effects, and so the euro fell by 66 points. This, as we see it, stopped the speculative growth over the euro that has been ongoing for the past two weeks. The price moved below the target level of 1.1754, having reversed from the resistance of the balance line on the daily chart. The Marlin oscillator is back in the negative territory. Now we are waiting for the price to drop to the target level of 1.1650, then to 1.1550 (November 2017 low).

The price settled under the MACD line on the four-hour chart, while Marlin is in the negative zone. Conditions for a further decline have been formed, we are waiting for the price at the indicated levels.

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.