EURUSD October Forecast
On the large scale, The overall Trend is still Bearish.
However I do expect the strength of USD to drop for a few days to fill in the imbalance of the previous bull run on the DXY;
https://www.tradingview.com/chart/DXY/Do0FGmgj-USD-Strength-DXY-Forecast/
Thus, I will expecting a retracement towards the area around level 1.16500:
Confluences at level 1.16500:
Entry Criteria:
Note: It is also possible for price to continue lower from a break and retest of level 1.16000
However I do expect the strength of USD to drop for a few days to fill in the imbalance of the previous bull run on the DXY;
https://www.tradingview.com/chart/DXY/Do0FGmgj-USD-Strength-DXY-Forecast/
Thus, I will expecting a retracement towards the area around level 1.16500:
Confluences at level 1.16500:
- Previous Flip Zone (Red)
- Fib Golden Zone (50%-61.8%) (Gold)
- Test of long-term trendline
- Half Level 1.16500
Entry Criteria:
- Break and retest of counter-trendline (Red)
- Retest of golden zone (Gold)
- Retest of Flip Zone (Red)
- Retest of Half Level 1.16500
- Bearish Structure
- Bearish candlesticks
- Moving Average Crossover
- DXY shows strength on a retest of supports
Note: It is also possible for price to continue lower from a break and retest of level 1.16000
Related publications
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.