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EURUSD have correction to 1.0940 and 1.0896

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EUR/USD, Wednesday forecast, October 9

Today market waiting for US FOMC Meeting minutes news, that will show future FED policy and this event will be very important for eurusd. But anyway, if economy weakness will be confirmed, dollar will continue uptrend, as economic situation now much worst.

The downtrend may be expected to continue, while pair is trading below resistance level 1.0967, which will be followed by reaching support level 1.0940 and if it keeps on moving down below that level, we may expect the pair to reach support level 1.0896.
An uptrend will start as soon, as the pair rises above resistance level 1.0967, which will be followed by moving up to resistance level 1.0996.

Weekly forecast, October 7 - 11
The pair is trading along an sideways trend between support 1.0940 and resistance 1.0987.
An uptrend will start as soon, as the pair rises above resistance level 1.0987, which will be followed by moving up to resistance level 1.1071.
An downtrend will start as soon, as the pair drops below support level 1.0940, which will be followed by moving down to support level 1.0879

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About the author

Anton started to study FOREX market in 2003. Since 2007, started to offer analytical forecasts for the major currency pairs and for gold prices in order to better understand the market and to assist to traders to identify the main key market levels. From 2014 started trading on futures market.

His current trading instruments in currency and commodity markets: eurusd, gold, wti crude oil, brent crude oil, natural gas, s&p500, dow jones, dax, soybeans

Anton graduate economist, graduated from university with degree in Banking.

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