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Main » 2018 » October » 9 » Euro Dollar Technical Forecast EUR / USD pair today 09/10/2018: The euro revolves around the balance line
Euro Dollar Technical Forecast EUR / USD pair today 09/10/2018: The euro revolves around the balance line


Results of the last trading day EURUSD:

On Monday, October 8, at the euro trading ended in the red. the dollar rose to most major currencies, while most of the profits it lost in the US session. Do not rely on what was an empty economic calendar and output in the US and Canada. The stock market in the United States to work, and bonds - is closed. Do not rely on what was an empty economic calendar.



In addition to the strengthening of the dollar, the euro once again came under pressure amid fears of proliferation budget crisis in Italy. Italian bond yields soared. In this connection, increased the spread between Italian and German bonds. Now, market participants will wait for the European Commission assessment of the budget.

Planned statistics (GMT +3):  

15:15 Canada is to publish data on the change of bookmarks of new foundations for September.


Fig. 1 hourly chart of EUR / USD


Current Situation EURUSD:

Expectations flat EURUSD on Monday did not materialize. Against the background of output in the United States and Canada with the budget theme of Italy came to the fore. With the result that we have? Drop to 1.1460 and then rebound to 1.1490. 

The current rate of EUR / USD 1,1496. Price euro has returned to the line lb. When the price is on it, then the situation at this point is 50 to 50.

What to Expect from the Forex market in Tuesday?

See, EURUSD price has risen above 1.1484 (low of October 5). So we can look at the double base (1.1463 and 1.1460). The model was launched, customers need to pass EURUSD resistance line, which yesterday was support. The faster the price will return to 67 g - 1.1540, the higher the probability of growth to 1.1590. Yesterday's candlestick has a long lower shadow - a factor in favor of the buyers.

The euro crosses a mixed picture. Therefore, if the dollar will go on the offensive, it is likely, from the zone of 1.1505 - 1.1514 followed by the euro sale. If you build a canal from the values ​​of 1.1463, 1.1460 and 1.1550, the price is at its center.  

EURUSD bearish trend, it is safer to sell the euro, than to buy. Seeing double development, EURUSD did not want to sell. For myself, I see a safe entry into the market in a short position in the zone of 1.1540 - 1.1550. And at this price model, we are unlikely to see the update 1.1460.

The euro EURUSD forecast today Vladislav Antonov Alpari



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