empty
 
 
ar
الدعم
فتح الحساب الفوري
منصة التداول
إيداع/ سحب

16.10.202306:49 Forex Analysis & Reviews: Trading plan for EURUSD for October 16, 2023

Exchange Rates 16.10.2023 analysis

Technical outlook:

EUR/USD dropped through the 1.0495 lows last week before finding some support. The single currency pair is seen to be trading close to 1.0525 at this point in writing and could drop further towards 1.0480 before the bulls are back again. On the flip side, a break above 1.0550 would confirm a potential bottom in place around 1.0495.

EUR/USD turned lower from the trend line resistance last week close to the 1.0620-30 area. The currency pair could drop close to 1.0450 before resuming higher again. On the other hand, a break below 1.0450 consistently would open the door towards 1.0200-50 as well before the bulls are back.

If prices hold above the 1.0450 potential support, the bulls would be inclined to attempt another high above 1.0630 in the next few trading sessions. Near-term support is seen close to 1.0480 which is also the Fibonacci 0.786 retracement of the recent upswing between 1.0450 and 1.0630 levels respectively. A bullish bounce remains a high probability if prices reach the 1.0480-90 zone.

Trading idea:

The potential upswing to continue after testing 1.0480.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.

لا تستطيع التحدث الآن؟
اطرح سؤالك في الدردشة.