16.10.202013:54 Evening review on October 16, 2020

Exchange Rates 16.10.2020 analysis

The downward breakdown of the EURUSD pair turned out to be false.

You may buy the euro from 1.1720.

It is possible to buy in case of a breakdown from 1.1760 with a stop at 1.1715.

There is no major news, but volatility may increase at 12:30 UTC.

The upward trend may continue with a potential target of up to 1.2450.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Viele Grüße,
Analytiker: Sam Alan
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