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19.10.202005:26 Forex Analysis & Reviews: Forecast for EUR/USD on October 19, 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 euro slightly increased last Friday due to data on the increase in the incidence of coronavirus in the world and strong growth in US retail sales. The report showed an increase of 1.9% in September against 0.6% in August. At the same time, US industrial production contracted by 0.6% in September after growing by 0.4% in August. But the euro is still under pressure. The price is falling below the balance indicator line on the daily chart, while the Marlin oscillator is in the negative zone - downward trend area. The targets remain the same: 1.1650, 1.1550.

Exchange Rates 19.10.2020 analysis

The four-hour chart shows that the euro's corrective growth did not reach the MACD line, while the Marlin oscillator also failed to move into a positive growth zone, the downward trend continues.

Exchange Rates 19.10.2020 analysis

Laurie Bailey
Analytical expert of InstaForex
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