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TradePlus-Fx|EURUSD: idea for this week – Analytics & Forecasts – 9 October 2023

October 9, 2023| Forex Market


💬Description: The end of last week turned out to be quite interesting. The main currencies were able to recover against the dollar, although they were expected to fall more deeply on the NFP. However, this recovery is not expected to last long.

At the beginning of the week, no particularly important data is predicted; some more or less important events for the market can only be generated by the geopolitical background. The second half of the week will be quite busy. The consumer price index will be published in a number of countries, with special attention, of course, paid to the USA and Germany.

Based on technical analysis and volume accumulation, the US dollar will most likely continue to grow in the second half of this week. For EURUSD, we can assume a reversal approximately in the area of 1.06167 – 1.06350, where push volume was previously formed. Local lows and their updates (below 1.04500) are considered the target for the fall.

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