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Forex Analysis & Reviews: Forecast for EUR/USD on October 28, 2019
time 28.10.2019 05:37 AM
time Relevance up to, 29.10.2019 05:23 AM

EUR/USD

The euro fell by 24 points last Friday, finding the resistance of the price channel at the peak of the day quite strong. The downward movement stopped exactly at the Fibonacci level of 123.6%. Now the immediate goal of the euro is to support the MACD line at around 1.1025. The Marlin oscillator is dropping steeply enough to form a reversal peak.

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On the four-hour chart, Friday's top coincided with the MACD line, which further strengthened the resistance. Leaving the price under the first target level opens the second target of 1.0985 - the Fibonacci level of 138.2%.

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Laurie Bailey,
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© 2007-2022
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