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[QUOTE="Antony_NPBFX, post: 199951, member: 38727"] [SIZE=5][B]EUR/USD: EUR is preparing to end the week with a decline 01.10.2021 [/B][/SIZE] Good afternoon, dear forum visitors! [URL=http://www.npbfx.com/?utm_campaign=company&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/URL] offers the latest release of analytics on EUR/USD for a better understanding of the current market situation and more efficient trading. [B] Current trend [/B] EUR demonstrates flat trading dynamics against USD during the Asian session, consolidating near new local lows since July 23, 2020, updated the day before. The instrument is trading near 1.1575, trying to go into corrective growth after a whole week of failures. One of the factors that would contribute to the recovery of EUR may be statistics from the eurozone on inflation. Analysts expect the September consumer price data to show moderate growth from 3% to 3.3%, raising hopes for possible monetary tightening by the European Central Bank (ECB) in the foreseeable future. The data released yesterday in Germany turned out to be ambiguous. The Unemployment Rate in the country remained at 5.5% in September, while the Unemployment Change fell by 30K (in August, the decline was 53K). At the same time, the Consumer Price Index showed zero dynamics in September, while the annualized Harmonized Index of Consumer Prices accelerated from +3.4% to +4.1% YoY. [b] Support and resistance [/b] Bollinger Bands on the daily chart are showing a steady decline. The price range is expanding, but fails to keep pace with the development of the “bearish” trend at the moment. The MACD indicator is going down, maintaining a strong sell signal (the histogram is below the signal line). Stochastic, having reached its lows, reversed into a horizontal plane, indicating the risks of EUR being oversold in the ultra-short term. Resistance levels: 1.1600, 1.1650, 1.1700, 1.1754. Support levels: 1.1546, 1.1500, 1.1460, 1.1400. [img]http://businesspr-finance.com/wp-content/uploads/2021/10/EURUSD011021-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/10/EURUSD011021-333.png[/img] [b] Trading tips [/b] To open long positions, one can rely on the rebound from 1.1546 as from support, followed by a breakout of 1.1600. Take-profit – 1.1700. Stop-loss – 1.1546. Implementation time: 2-3 days. A confident breakdown of 1.1546 may become a signal for new sales with the target at 1.1460. Stop-loss – 1.1600. [B]Use more opportunities of the NPBFX analytical portal: E-book[/B] If you just recently started to be interested in trading on FOREX and would like to deepen your knowledge, an electronic Beginner's Guide to FOREX Trading will be an excellent helper for you here. The book consists of 5 chapters and reflects fundamental concepts of the foreign exchange market to start successful trading. From the main chapters of the E-book you can learn about the concepts and history of FOREX, currencies and trend lines, technical indicators, types of orders, trading on news, psychology of trading, risk management and much more. You can read a Beginner's guide to FOREX Trading online or download it free of charge from the NPBFX analytical portal in the "Education" section. In order to get unlimited access to the E-book and other useful instruments on the portal, you need to register on the NPBFX website. If you have any questions about trading instruments, you can always ask an analyst in the online chat on the portal and get a free consultation of an experienced specialist. Use the current recommendations of analysts on EUR/USD and trade efficiently with [URL=https://my.npbfx.com/register/?utm_campaign=register&utm_medium=forumpost&utm_source=earnforex.com]NPBFX[/URL]. [/QUOTE]
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