EUR/USD Mid-Session Technical Analysis for October 10, 2017

eur/usd

The EUR/USD rose to its highest level since October 2 on Tuesday after Germany’s trade data beat expectations, boosting hopes the Euro Zone economy’s outlook remained robust. Exports outpaced imports adding to evidence that Europe’s biggest economy performed strongly in the third quarter, ignoring a stronger Euro.

Hawkish comments from a European Central Bank official also drove the EUR/USD higher. Sabine Lautenschlaeger, a member of the ECB executive board, called for the central bank to roll back asset purchases in 2018.

EURUSD
Daily EURUSD

Daily Technical Analysis

The main trend is down according to the daily swing chart, but momentum has shifted to the upside.

A trade through 1.1832 will change the main trend to up. A move through 1.1668 will negate the closing price reversal bottom and signal a resumption of the downtrend.

The short-term range is 1.1832 to 1.1668. Its 50% level or pivot is 1.1750. This price is support.

The main range is 1.2033 to 1.1668. If the main trend changes to up then its retracement zone at 1.1850 to 1.1894 will become the primary upside target.

Daily Forecast

Based on the current price at 1.1792 and the earlier price action, we should have a bullish tone today as long as the EUR/USD hold above the support cluster at 1.1753 to $1.1748.

The daily chart shows there is plenty of room to the upside with the main top at 1.1832 the first target. Followed by the main 50% level at 1.1850.

Overtaking 1.1850 could trigger an acceleration into a resistance cluster at 1.1893 to 1.1894.

Don't miss a thing!
Discover what's moving the markets sign up for a daily update delivered to your inbox

More Forecasts

See All
USDCAD Wednesday

USD/CAD Daily Fundamental Forecast – December 13, 2017

E-mini Dow Jones Industrial Average

E-mini Dow Jones Industrial Average (YM) Futures Analysis – December 13, 2017 Forecast

trump and fed

Trump & Fed Will Deliver One-Two Punch

Expand Your Knowledge

See All
What is an ICO

What is an ICO (Initial Coin Offering) and How Does it Work?

Can Le Pen Make France Great Again?

The Story of Marine Le Pen

Your own cryptocurrency: not difficult, but expensive

Make Your own Cryptocurrency: Not Difficult, But Expensive

Favorites

SymbolLast PriceChange
EURUSD
EUR/USD
1.1828
+0.0086
+0.73%
GBPUSD
GBP/USD
1.3413
+0.0095
+0.71%
XAUUSD
Gold
1255.5
+12.415
+1%
CL
Crude Oil
56.685
-0.7350
-1.28%
SPX
S&P 500
2669.2
+4.5000
+0.17%
DAX
DAX 30
13074.0
-98.000
-0.74%
Live Quotes

Top Promotions

Top Brokers

Don't miss a thing!

Discover what's moving the markets sign up for a daily update delivered to your inbox