empty
 
 
nl
Ondersteuning
Direct openen van een account
Trading Platform
Storting/opname

04.10.202404:50 Forex Analyse & Reviews: Forecast for EUR/USD on October 4, 2024

The euro has completed the minimum target after breaking below the MACD line on the daily chart—touching the target level of 1.1010 with its lower shadow. The Marlin oscillator is slightly turning upward in bearish territory. As of this morning, an almost ideal moment has formed for a reversal toward 1.1186 and higher. However, if the euro moves lower after the release of U.S. employment data, the likelihood of further decline toward 1.0882 and then 1.0777 will sharply increase.

Exchange Rates 04.10.2024 analysis

Unfortunately, in the current atmosphere of market nervousness, it's difficult to determine the direction of the market after strong or weak data releases, as investors may have differing views on the future situation. Therefore, we cannot rule out strong movements in both directions. However, the main scenario remains—a possible attempt to form another upward leg before a long-term reversal toward dollar strengthening.

Exchange Rates 04.10.2024 analysis

On the four-hour chart, the Marlin oscillator is rising. In the local situation, this confirms the potential for the upward scenario. A break above 1.1076 would also correspond to overcoming the MACD line on the daily chart. We await the market's reaction to the U.S. data later today.

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

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
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.

Kan u nu niet praten?
Stel uw vraag in de chat.