empty
 
 

21.10.202108:25 Forex Analysis & Reviews: EUR/USD breaking forecast on October 21, 2021

The eurozone's final data on inflation usually has no influence on the market because it mostly comes in line with preliminary estimates that have a significant impact on the market. Yesterday, it seemed that confirmation of an increase in inflation to 3.4% versus 3.0% led to a weaker euro. The currency started to go down almost at the same time as the inflation report came out. However, it was a deceptive impression. The real reason for a weaker euro was the dynamic of gas prices. At the opening of the European session, natural gas was scoring gains. Meanwhile, during the North American session, the price plunged and the euro started to rise at the same time. As a result, the currency returned to its corrective highs.

Eurozone inflation:

Exchange Rates 21.10.2021 analysis

Nevertheless, the main reason for such a market behavior is an empty macroeconomic calendar. Today, however, weekly jobless claims data is set to be released in the United States. Initial claims are estimated to rise by 2K and continuing ones to drop by 118K. Therefore, the state of the US labor market continues to improve and is likely to lead to a bullish US dollar.

United States Continuing Jobless Claims:

Exchange Rates 21.10.2021 analysis

EURUSD is retracing from the pivot point of 1.1530, where buyers came at a standstill. The quote will be temporarily held in the range of 23.6/38.2 Fibonacci levels.

The Relative Strength Index (RSI) is located between line 50 and line 70 on the hourly chart, indicating increased demand for long positions.

On the daily chart, we can see a downward trend with a corrective move in its structure.

Outlook:

In the current situation, the quote will be temporarily held between the Fibonacci levels. Consequently, market sentiment may change and a corrective move is likely to stop.

A sell signal is expected to form if the price consolidates below 1.3610, leading to a price recovery.

In terms of complex indicator analysis, there is a sell signal for short-term and intraday trading due to a bounce from the 38.2 Fibonacci level.

Exchange Rates 21.10.2021 analysis

*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。

Dean Leo,
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。

EUR/USD breaking forecast for January 24, 2022
The euro edged up and then pulled back last Friday. The same scenario could play out today as well, with the only difference being that the euro will go down at first.
作者: Dean Leo
01:50 2022-01-24 UTC--5
3463
Hot forecast for GBP/USD on 01/21/2022
A short stagnation along the 1.3600 GBPUSD level was completed by speculative jumps, where as a result the rate dropped below the 1.3580 mark. This indicates a high interest in short positions among market participants, which may lead to a subsequent weakening of the value of the pound.
作者: Dean Leo
02:10 2022-01-21 UTC--5
5908
Red-hot forecast of EUR/USD on January 20, 2022
The single European currency has not completed a bounce yet. EUR/USD is likely to continue the upward correction today amid US macroeconomic data.
作者: Dean Leo
01:30 2022-01-20 UTC--5
4873
展示更多
现在无法通话?
提出您的问题,用 在线帮助.