Forecast for EUR/USD on October 25, 2023
October 25, 2023 5:24 amVideo
Latest News
- Trading Signals for ETH/USD (Ethereum) for April 12-15, 2024: buy above $3,435 (3/8 Murray – 200 EMA) April 12, 2024
- EUR/USD. Analysis for April 12th. The euro falls down under the pressure of the news background April 12, 2024
- GBP/USD. Analysis for April 12th. A significant event: the pound fell below the 25-figure April 12, 2024
- Trading Signals for EUR/USD for April 12-15, 2024: buy above 1.0620 (-2/8 Murray – rebound) April 12, 2024
- GBP/USD: trading plan for the US session on April 12th (analysis of morning deals). The pound followed the euro April 12, 2024
- EUR/USD: trading plan for the US session on April 12th (analysis of morning deals). The euro continues to fall April 12, 2024
- EUR/USD and GBP/USD: Technical analysis on April 12 April 12, 2024
- EUR/USD: Dovish signals from the ECB and rising PPI April 12, 2024
- EUR/USD. April 12th. ECB meeting: confidence in rate cut increased in June April 12, 2024
- GBP/USD. April 12th. British economy continues to stagnate April 12, 2024
- Analysis and trading tips for EUR/USD on April 12 (US session) April 12, 2024
- Analysis and trading tips for USD/JPY on April 12 (US session) April 12, 2024
- Analysis and trading tips for GBP/USD on April 12 (US session) April 12, 2024
- Weekly Forex Outlook: 12/04/2024 – More inflation data on the way as rate cut bets in disarray April 12, 2024
- Technical Analysis – GBPUSD ticks down to new 5-month low April 12, 2024
- Bitcoin holds above $70,000 as halving event looms – Crypto News April 12, 2024
- Week Ahead – More inflation data on the way as rate cut bets thrown into disarray April 12, 2024
- Bitcoin will thrive during supply crisis April 12, 2024
- Technical Analysis – EURUSD plummets after US CPI and ECB decision April 12, 2024
- Will US retail sales add juice to the dollar’s rally? – Preview April 12, 2024
EUR/USD:
It seems that the euro has no strength to rise or fall. Yesterday, EUR/USD pared Monday’s gains. As a result, this morning, the euro is below the level of 1.0613 and below the Fibonacci level. The reason for this movement was the weak eurozone PMI and moderately strong data from the US, although the forecasts were diametrically opposite.
Nevertheless, stock markets were in the green (the S&P 500 was up 0.73%, while the Euro Stoxx 50 was up 0.55%), and demand for government bonds dipped. These circumstances do not paint a bearish reversal. Tomorrow, the European Central Bank will reveal its view on economic prospects, and the Federal Reserve will do so on November 1st. Major players tend to believe that the Fed will be more dovish than the ECB, which is why the euro will have the advantage.
On the 4-hour chart, the pair stopped falling at the MACD line. The Marlin oscillator is in negative territory but may soon move into the positive territory. We can confirm this once the price rises above the 1.0613 level. If the price consolidates below yesterday’s low at 1.0584, it will continue to fall to the nearest support level at 1.0552, from which a bullish reversal may occur. If the price continues to trade below the support level, it may move towards 1.0483.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: