FXStreet chief analyst: EUR / USD on October 20 trend analysis

Updated: October 20, 2015  Views: 41

FX168 hearing Tuesday (beginning October 20th Asian city, the euro / dollar in the 1.1330 near the level hovering previous day the euro / dollar retracement of further shocks and to Yinxian fell, the lowest touched 1.1305 overnight, after a little there from that point The rebound.

The previous day's market as a whole is relatively light, the dollar rose modestly, Asian stocks ended mixed on economic data, China reported third-quarter annualized GDP growth of 6.9%, while industrial output continues to weaken, due October Industrial annual output growth of 5.7%, lower than the expected 6.0%, the previous value of 6.1%. Europe is no economic data released, but the European (ECB member Nowotny said the central bank once again [microblogging] may need to be expanded in order to ensure that the euro zone economy to stimulate growth.

Technically, FXStreet Valeria Bednarik, chief analyst said the euro / dollar fell to 1.1305 lows since October 9, after the rally in the New York session, but in the vicinity of 1.1345 blocked, the current exchange rate of the water level continues to constitute a short-term resistance. Short-term Euro remains bearish, the dollar fell below the 1 hour chart show major moving averages, short-term moving average was a strong downward trend, near 1.1345, and below the axis of moderate technical indicators bearish, if below 1.1280 support fall further.

4 hours chart point of view, Bednarik points out, 20 fall further to around the average price, the average current cut located 1.1385. At the same time, the technical indicators rebounded from oversold area, but still in the bottom axis.

Support levels: 1.1280 1.1240 1.1200

Resistance levels: 1.1345 1.1385 1.1420

(EUR / USD 60 minutes - Source: FXStreet

07:55 GMT, the euro / dollar reported 1.1326 / 28.


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