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EURUSD Forecast And Technical Analysis Oct 19th

EURUSD Forecast And Technical Analysis

Fundamentals: Italy budgetary concerns,divergent monetary policy of the central banks, unpromising Eurozone figures are keeping the pair under bearish pressure.

Mario Draghi told European Union leaders that questioning the bloc’s rules can worsen financial conditions and damage growth, according to an official familiar with his remarks, which are likely aimed at Italy’s budget dispute with the EU Commission.

Technically:

Our first midterm target was 1.14500 as we have mentioned in our previous analysis  and we have reached our target.

EURUSD Technical Analysis

Today we may see a minor retracement towards 1.14850 and 1.15100. The bearish pressure will remanin as long as the pair holds below 1.15300.

1.14300 is the key support and the bearish move will be triggered by the breakout of 1.14300 support. Our midterm target is 1.12000.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURUSD Forecast And Technical Analysis Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

 

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