Lately, the sellers have placed strong pressures in their attempts of taking control over the price, and managed to force the pair lower, from 1.0803 to 1.0756.
The Stochastic oscillator indicates that the pair has greater chances of appreciating to upper levels at the 35 zone.
Alternatively, should the sellers take the lead and force the price below the 1.0691 area, the pair could decline as low as 1.0505.
- The euro zone’s GDP s.a. (YoY) (Q3) and GDP s.a. (QoQ) (Q3) releases are expected to have a strong influence on the euro
- The Trade Balance (Oct) and the Factory Orders (MoM) (Oct) releases are expected to have a medium influence on the U.S. dollar
· Probable trend (Bullish): 1.0803
· Bullish take profit target: 1.0986
· Stop loss target: 1.0691
· Alternative trend (Bearish): 1.0691
· Bearish take profit target: 1.0505