Forecast for EUR/USD on October 19, 2020

EUR/USD

The euro slightly increased last Friday due to data on the increase in the incidence of coronavirus in the world and strong growth in US retail sales. The report showed an increase of 1.9% in September against 0.6% in August. At the same time, US industrial production contracted by 0.6% in September after growing by 0.4% in August. But the euro is still under pressure. The price is falling below the balance indicator line on the daily chart, while the Marlin oscillator is in the negative zone - downward trend area. The targets remain the same: 1.1650, 1.1550.

analytics5f8d1e03effa8.jpg

The four-hour chart shows that the euro's corrective growth did not reach the MACD line, while the Marlin oscillator also failed to move into a positive growth zone, the downward trend continues.

analytics5f8d1e06e7473.jpg

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