Euro-dollar’s decline in October has been extremely strong for a major forex pair. Only the 100 SMA has offered significant support so far. However, the price is now extremely strongly oversold, so it’s somewhat questionable based on the chart whether these strong losses will continue without a pause.
The area around $1.08 could be a noteworthy support since this was the source of August’s uptrend. Below this, the 100% monthly Fibonacci retracement around $1.07 could resist testing unless accompanied by a strong fundamental driver.
With no top-tier economic data due until GDP on 30 October, consolidation rather than continuation seems possible, but traders need to monitor news and polling for the upcoming American elections.
These opinions are personal to the writer; they do not reflect those of Exness.
The area around $1.08 could be a noteworthy support since this was the source of August’s uptrend. Below this, the 100% monthly Fibonacci retracement around $1.07 could resist testing unless accompanied by a strong fundamental driver.
With no top-tier economic data due until GDP on 30 October, consolidation rather than continuation seems possible, but traders need to monitor news and polling for the upcoming American elections.
These opinions are personal to the writer; they do not reflect those of Exness.
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。