EUR/USD Price Analysis and Potential Trading Scenarios
EUR/USD reached the 1.0955 zone on October 4th and has been oscillating around this level for about seven days without a clear direction.
On October 9th, the price broke through this minor support zone and is holding below, indicating slightly higher bearish momentum but nothing significant.
The US CPI and PPI data continue to support USD strength. However, the price may wait for the ECB rate decision on October 17th to make a more decisive move.
The main direction so far is down but if the price moves above 1.0955 it may rise up to 1.1000
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
EUR/USD reached the 1.0955 zone on October 4th and has been oscillating around this level for about seven days without a clear direction.
On October 9th, the price broke through this minor support zone and is holding below, indicating slightly higher bearish momentum but nothing significant.
The US CPI and PPI data continue to support USD strength. However, the price may wait for the ECB rate decision on October 17th to make a more decisive move.
The main direction so far is down but if the price moves above 1.0955 it may rise up to 1.1000
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Note
As long as the price stays below 1.0955, the likelihood of a bigger downside move this week is increasing.
Don't forget that we also have the ECB meeting that is expected to cut rates this week and could weigh on the EURO pairs.
Trade closed: target reached
EURUSD - Quick target 1 reached as expected and as I explained above
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✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.