On Monday, good data on income and expenditure of consumers in the US in September came out. Personal income increased by 0.2% (the forecast was 0.4%), expenses coincided with expectations of 0.4%. The euro is a little hooked (-30 points), without changing the whole technical picture. Potential rising correction is still determined by three main resistances; 1.1432, 1.1470, 1.1510, indicator and trend lines of the daily timeframe.
On the H4 chart, the price remains below the balance line and the Kruzenshtern line. The last one and the price is trying to approach the level of 1.1432, which coincides with the minimum of October 19 and 10. The Marlin oscillator, which turns up from the zero line, tells us about this price intention. The data can help the euro on the number of unemployed in Germany. The October forecast is -12 thousand versus -23 thousand in September.
In the event of market confusion, the bears can take advantage of the situation and try again to attack at least Friday to achieve the long-term goal of 1.1300.
The material has been provided by InstaForex Company – www.instaforex.com
EUR / USD
On Monday, good data on income and expenditure of consumers in the US in September came out. Personal income increased by 0.2% (the forecast was 0.4%), expenses coincided with expectations of 0.4%. The euro is a little hooked (-30 points), without changing the whole technical picture. Potential rising correction is still determined by three main resistances; 1.1432, 1.1470, 1.1510, indicator and trend lines of the daily timeframe.
On the H4 chart, the price remains below the balance line and the Kruzenshtern line. The last one and the price is trying to approach the level of 1.1432, which coincides with the minimum of October 19 and 10. The Marlin oscillator, which turns up from the zero line, tells us about this price intention. The data can help the euro on the number of unemployed in Germany. The October forecast is -12 thousand versus -23 thousand in September.
In the event of market confusion, the bears can take advantage of the situation and try again to attack at least Friday to achieve the long-term goal of 1.1300.
The material has been provided by InstaForex Company – www.instaforex.com
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