empty
 
 
29.10.2019 05:54 AM
Forecast for EUR/USD on October 29, 2019

EUR / USD

On Monday, the euro corrected from support of the Fibonacci level of 123.6% (1.1074) by 20 points, but at the same time maintained a declining mood. The movements of the marlin oscillator over the past two days coincide with the price movements, which indicates a neutral waiting position of the market on the eve of tomorrow's Fed meeting.

This image is no longer relevant

On the four-hour chart, the price is still below the balance lines (indicator red) and MACD (indicator blue) and here the signal level is 1.1074, overcoming of which opens the way to 1.1025 - the MACD line on the daily scale.

This image is no longer relevant

A trend reversal into a more significant growth is possible only after the price has consolidated above the MACD line (1.1135), then the immediate goal will be the Fibonacci level of 110.0% at the price of 1.1154.

Releasing today, US economic indicators are projected in favor of the dollar; Conference Board consumer confidence index for October may show growth from 125.1 to 128.2, house prices in 20 largest cities in August are expected to rise to 2.1% YOY from 2.0% YOY , incomplete sales in the secondary real estate market in September may add another 0.9%.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    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

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback