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EURUSD Forecast And Technical Overview Week of Oct 22-26

EURUSD Forecast And Technical Overview Week of Oct 22-26


  • Unpromissing and disappointing EU data.
  • ECB Policy Meeting: The heightened risks to the growth outlook are not expected to derail its plans to end QE by year-end, but the bank could downgrade the growth risk assessment in its policy statement.That would be a dovish signal.
  • The gap between short-dated bond yields in the United States and Germany are at their widest in 30 years.
  • Tensions between Brussel and Italy and Italy budgetary concerns.  Italian bond yields keep hitting to fresh multi-year highs.Moody’s and S&P Global are likely to cut Italy’s credit rating next week
  • U.S Home Sales data would be in focus.
  • FED seems not much concerned about what Trump said. FED minutes, clear as the water, indicate that they will keep the rates going up. They even disccused the need of pushing the benchmark rate above what they would consider a neutral level


Friday we have published a bullish cypher pattern indicating a minor correction. We have reached our targets.

EURUSD Bullish Cypher Pattern

As seen on the H4 chart, the pair tested the 1.15300 resistance and ended the week below EMA 100.The bearish pressure will remain as long as the price hold below 1.16500. We need to see H4 closing above 1.16500 to talk about a shorter term trend reversal.- Stonger fundamentals are needed –

If the price breaks above 1.15300, 1.5700 and 1.16200 can be tested. We plan to use throwbacks as selling opportunities. Our midterm targets are 1.4300 and 1.3600.

Intraday trade opportunites will be published for the members.

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

EURUSD Forecast : 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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