Description
⋅ Starting from the beginning of October Euro was rising but on October 21-st the situation changed.
Technical analysis
Euro broke the trend line down and started falling again. Simultaneously 9-EMA was broken down too.
MACD lines are close to intersect each other. Parabolic SAR is close to Japanese candlesticks too, confirming the possibility of the reversal
If Euro continues falling down the target for the price will become 1,10640 (38,2% Fibo correction level) and 1,10280 (50% correction)
Fundamental analysis
The most important Fundamental news will come on Tuesday. Conference Board Consumer Confidence is being published in the US. The forecast is 127,3
Summary: we expect that in a short-term Euro might weaken against the US dollar