Forecast for EUR / USD pair on October 26, 2018

EUR / USD pair

Yesterday's ECB meeting brought no surprises. The regulator confirmed that the nearest rate increase will not be until the summer of next year, and Italy's current budget problems are Italy's own problems. Also, the ECB Head Mario Draghi drew attention to the Brexit issue. The Ifo business sentiment index in Germany fell from 103.7 this month to 102.8, and the volume of orders for durable goods in the US rose by 0.8% in September against the forecast of 1.3%. As a result, the euro lost 16 points. The price made a retest of the control level of 1.1432, which is why the Marlin oscillator signal line on the four-hour chart also tested the border with the growth zone again. In turn, the price and the oscillator returned to decline.


Today, the main news will be the publication of US GDP with a forecast of 3.3% for the 3rd quarter from 4.2% in the 2nd quarter. The slowdown is quite natural but the pace remains high. We look forward to the further decline in the euro towards 1.1300. Perhaps there will be an attempt to fix the price below the level. In this case, a further perspective opens at 1.1200.


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