The euro and the U.S. dollar are lately oscillating between the range of 1.1201 and 1.1245 respectively.

The bulls, since the 28th of September 2016, have placed pressures in their attempts of taking control over the price, and managed to force the pair from 1.1183 to 1.1245.

Probable Scenario

In the scenario where the EURUSD stabilizes above the 1.1218 area, the price could escalate as high as 1.1278.

The Stochastic oscillator indicates that the pair has greater chances of appreciating to upper levels at the 70 zone.

eurusd-sep-30-2016

Alternative Scenario

Alternatively, should the sellers take the lead and force the price below the 1.1183 area the pair could decline as low as 1.1123.

Today’s Major Announcements

  • Euro zone’s Consumer Price Index (YoY) (Sep) and the Consumer Price Index – Core (YoY) (Sep) releases could have a strong impact on the euro
  • The Personal Consumption Expenditures  – Price Index (MoM) (Aug), the Core Personal Consumption Expenditure – Price Index (YoY) (Aug), the Personal Spending (Aug), the Core Personal Consumption Expenditure – Price Index (MoM) (Aug), the Personal Income (MoM) (Aug), and the Personal Consumption Expenditures – Price Index (YoY) (Aug) announcements will likely have a medium impact on the U.S. dollar

Synopsis

·         Probable trend (Bullish): 1.1218

·         Bullish take profit targets: 1.1278

·         Stop loss target: 1.1183

·         Alternative trend (Bearish): 1.1183

·         Bearish take profit target: 1.1123