Market Summary: EUR/USD closed today at 1.0939, showing a bearish trend throughout the session. The RSI is at 35.5, indicating selling pressure and a potential further decline, as the MACD also remains in negative territory.
Macroeconomic Data Impact:
Crude Oil Inventories: Today’s crude inventories exceeded forecasts at 5.81M, potentially impacting the dollar, although effects have been limited so far. October 10 Expectations: CPI (Consumer Price Index): A slight slowdown is expected in the annual CPI (2.3% vs. 2.5% prior), which could weaken the dollar if inflation cooling forecasts are confirmed. Jobless Claims: Forecasts are at 231K, and any significant deviation could alter market sentiment and add volatility to the EUR/USD pair. Key Technical Levels:
Support (S1): 1.0935 Resistance (R1): 1.0942 Pivot: 1.0939 Recommended Entry Strategy: Given the current context, a short (sell) position is recommended with:
Entry Level: 1.0935, aiming for continued downside. Stop Loss: 1.0946, above resistance R2. Take Profit: 1.0928, capturing a potential break of immediate support.
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