Forecast for EUR/USD on October 1, 2020

EUR/USD

Yesterday's debate between presidential candidates Joe Biden and Donald Trump turned out to be a bad show, investors regretted spending time waiting for them since the beginning of the week and continued to buy dollars and shares, albeit with some caution, primarily associated with fears of a "peaceful" transfer of power by Trump.

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The euro did not try to go beyond the signal level of 1.1754 on the daily chart, these are the lows of August 21 and September 9. The euro is more likely to break through the area above the 1.1650 support and continues to fall towards 1.1550 (low on Nov 5, 2017).

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The Marlin oscillator continues to decline on the four-hour chart, but it still remains in the zone of positive values and the price is above the balance (red) and MACD (blue) indicator lines. Setting the price below the MACD line (1.1694) will be a signal for its attack on 1.1650.

The material has been provided by InstaForex Company - www.instaforex.com