empty
 
 

26.10.202009:19 Forex Analysis & Reviews: Analysis and trading recommendations for the EUR/USD and GBP/USD pairs on October 26

Analysis of transactions in the EUR / USD pair

Strong manufacturing activity in the largest eurozone countries has restored traders' confidence on Europe's economic recovery. As a result, the euro moved 50 pips up from 1.1813, reaching the target price level of 1.1864.

Exchange Rates 26.10.2020 analysis

Trading recommendations for October 26

Ifo will release economic assessments on Germany today, which may affect the direction of the euro in the market. If the reports turn out to be better than the forecasts of economists, the recovery and upward movement of the EUR / USD pair will continue.

Exchange Rates 26.10.2020 analysis

  • Open a long position when the euro reaches a quote of 1.1860 (green line on the chart), and then take profit at the level of 1.1915. However, this will only be possible if the Ifo releases very good economic assessments.
  • Open a short position when the euro reaches a quote of 1.1824 (red line on the chart, and then take profit around the level of 1.1765. If the indicators turn out to be worse than the forecasts, pressure on the European currency will return.

Analysis of transactions in the GBP / USD pair

The bulls tried to raise the rate of the pound last Friday morning, however, the quote was only able to move 20-25 pips upward. At the same time, short positions were unprofitable as well in the afternoon, since the quote only moved 20 pips down in the market.

Exchange Rates 26.10.2020 analysis

Trading recommendations for October 26

Since there are no economic reports scheduled for release today, the attention of traders will be shifted on the next round of negotiations between the UK and the EU over the long-disputed post-Brexit trade deal. Good news about it will lead to a new wave of growth on the British pound, whereas a bad news could lead to another decline in the GBP / USD pair.

Exchange Rates 26.10.2020 analysis

  • Open a long position when the pound reaches a quote of 1.3045 (green line on the chart), and then take profit around the level of 1.3104 (thicker green line on the chart).
  • Open a short position when the pound reaches a quote of 1.3016 (red line on the chart), and then take profit at least at the level of 1.2967. Bad news on Brexit will resume the downward trend in the GBP/USD pair.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Jakub Novak,
Analytical expert of InstaForex
© 2007-2022
立即从分析师的建议受益
充值交易账户
开设交易账户

InstaForex分析评论将让您充分了解市场趋势! 作为InstaForex的客户,您将获得大量的免费服务以实现有效的交易。




  • Trade Wise, Win Devise
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
现在无法通话?
提出您的问题,用 在线帮助.