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15.10.2019 06:26 AM
Forecast for EUR/USD on October 15, 2019

EUR/USD

Trading on the market was calm on Monday, as oil set the tone, having fallen in price by 2.55% (WTI) and also slightly pressured counter-dollar currencies. The euro declined by 11 points - on the daily chart, the MACD indicator line exerted pressure, and the balance line supported from below. The Marlin oscillator in a growing trend zone.

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On the four-hour chart, the divergence on the oscillator is formed, but the price stably stays above the balance line, which creates the likelihood of a double divergence, and if it forms, then the chance of a price reversal will increase. Euro growth is possible by 1.1074 - the Fibonacci level of 123.6% on daily, and if the divergence takes the classically correct form, the price output above the MACD line on the daily scale may turn out to be false.

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Departure of the price under the range of 1.0985-1.1000 can immediately develop a downward movement. The first target will be the low of September 12 and 3, 1.0926.

Laurie Bailey,
Analytical expert of InstaForex
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