Loses momentum below the mid-1.0500
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Hello dear friends! What do you think, will EURUSD rise or fall next?
Let's find out more about this currency pair with Karina!
As Karina mentioned in the previous article, EURUSD will rise but only as a correction and will soon be pushed back down when it reaches 1.070.
This currency pair is facing some selling pressure due to the stronger US dollar (USD) and optimistic economic data in the Eurozone. Moreover, recent tensions in the Middle East have also raised concerns about the declining growth prospects of the region. Market investors are waiting for the European Central Bank's (ECB) interest rate decision on Thursday, which is expected to keep rates unchanged at the October meeting.
On the chart:
The Bollinger Bands are expanding, and after touching the upper limit, the price has turned downwards. The immediate target for EU may be to form a DOW pattern and continue the trend with three important targets sequentially at 1.053, 1.050, and finally 1.045.
If you find this article helpful, please share it with others. Don't forget to give Karina a like and follow !
Let's find out more about this currency pair with Karina!
As Karina mentioned in the previous article, EURUSD will rise but only as a correction and will soon be pushed back down when it reaches 1.070.
This currency pair is facing some selling pressure due to the stronger US dollar (USD) and optimistic economic data in the Eurozone. Moreover, recent tensions in the Middle East have also raised concerns about the declining growth prospects of the region. Market investors are waiting for the European Central Bank's (ECB) interest rate decision on Thursday, which is expected to keep rates unchanged at the October meeting.
On the chart:
The Bollinger Bands are expanding, and after touching the upper limit, the price has turned downwards. The immediate target for EU may be to form a DOW pattern and continue the trend with three important targets sequentially at 1.053, 1.050, and finally 1.045.
If you find this article helpful, please share it with others. Don't forget to give Karina a like and follow !
Nota
Analysis last time
Nota
On the 1h chart, EMA 34 is reversing. The downtrend to the goal of 1,050
Nota
The EU price is still continuing to rise as analyzed, trading at 1.0553.Today, we will receive three announced news:
- Personal consumption expenditure MoM
- Monthly personal income
- Core PCE price index
Nota
With the week's major data out of the way, investors will be looking ahead to next week which sees EU Harmonized Index of Consumer Prices (HICP) and EU Gross Domestic Product (GDP) on Tuesday, with another rate call from the Fed slated for Wednesday.
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