Stay 
Trading Conditions
Products
Tools
Yesterday, the euro created the initial conditions for a reversal - it closed the gap, turned the technical indicators down. The structure of the reversal can be complicated, even after the price goes below the level of 1.0205, it cannot be said that the reversal has taken place, so it is recommended to open short positions with lower volumes. The upward trends of the weekly chart have not yet run out of steam, perhaps they are late. The risk lies in the fact that a slight decline in the euro is associated with profit taking.
Producer price data (PPI) will be released today. Monthly growth for October is projected at 0.4%, the annual index is expected to decline from 8.5% to 8.3% y/y. If the data does not differ greatly from the forecast, the euro may continue to fall.
We are cautiously waiting for the price to drop below 1.0205. Further, the 1.0100/20 target will become available.
On the four-hour chart, the Marlin Oscillator is approaching the zero line at a high speed; having overcome it, it will pull the price down with greater force. The MACD indicator line is being introduced into the range of 1.0100/20, so this area can be considered critical for growth, that is, the upward trend will be broken if the price can overcome it.
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.
