EUR/USD Forecast Euro Dollar October 9, 2019


Top Forex Brokers

Currency pair Euro/Dollar EUR/USD continues to move as part of the correction and the downward channel. Moving averages indicate the presence of a short-term lateral trend for the pair. In general, the current trend continues for quite some time and remains strong. At the time of the publication of the forecast, the Euro/Dolla rate is 1.0986. At the moment, we should expect an attempt to correct and test the resistance level near the area of ​​1.1015. Further, the rebound and continued fall of the Euro/Dollar currency pair. The potential target of this movement is the area below the level of 1.0825.

EUR/USD Forecast Euro Dollar October 9, 2019

An additional signal in favor of reducing the EUR/USD quotes will be a rebound from a downward trend line on the relative strength index (RSI). The second signal will be a test of the upper boundary of the downward channel. Cancellation of the option to reduce the quotes of the Euro/Dollar currency pair will be a strong growth and a breakdown of the level of 1.1070. This will indicate a breakdown of the resistance area and continued growth in the area at the level of 1.1205. Expect to accelerate the fall in the EUR/USD pair with a breakdown of the lower border of the rising channel and closing below 1.0905.

EUR/USD Forecast Euro Dollar October 9, 2019

Among the important news from Europe and America that may affect the EUR/USD pair rate, it is worth highlighting: United States JOLTS Job Openings, Federal Reserve System (Fed) Chair Powell Speech.

EUR/USD Forecast Euro Dollar October 9, 2019 implies an attempt to correct and test the resistance area near the level of 1.1015. Where can we expect a rebound and an attempt to continue the fall of the pair in the area below the level of 1.0825. In favor of reducing the currency pair, a test of a downward trend line on the relative strength index (RSI) will come out. Cancellation of the option of falling EUR/USD will be a strong growth and the breakdown level of 1.1070. This will indicate a breakdown of resistance and continued growth of the pair in the area above the level of 1.1205.


Join our Telegram Channel

Post Comment