Forecast for EUR / USD pair on October 10, 2018
EUR / USD pair
Yesterday, strong mixed news came to the markets and there were a lot of them, including the aggravation of the situation around the Italian budget, the pessimistic IMF forecasts regarding the global economy, the fall in US government bond yields as a result of investor risk aversion and the news about the possible achievement of Brexit conditions by the beginning of next week. As a result, the dollar index still closed the day with a decrease of 0.08% and the euro has not changed a single point. The price made a false breakdown of the control level at 1.1460 and, up to the current moment, it went above the MACD line to the daily and above the balance line to H4. The convergence of the oscillator with the H4 price was pronounced triple. Now, under the condition that the price did not fall, you can consider options for growth. There are two main immediate growth goals of 1.1570, which is the resistance of the balance line on a daily scale (the line itself grows a little) and the correction level of 50% on the fall line from September 24 is 1.1624. But first, the price needs to overcome the resistance of the trend line indicator on H4 near 1.1545.