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[QUOTE="Antony_NPBFX, post: 200108, member: 38727"] [SIZE=5][B]EUR/USD: EUR returns to local lows 06.10.2021 [/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 is showing a moderate decline against USD during the Asian session, returning to local lows and testing the level of 1.1600 for a breakdown. Investors are again actively buying USD after an attempt at correction at the end of last week, when trading participants preferred to close a significant part of long positions in USD, fixing profits. USD, as before, is supported by expectations of the imminent start of tightening of monetary policy by the US Fed, while the European Central Bank (ECB) is still taking a wait-and-see attitude. The growth of fears about the prospects for further recovery of the world economy is also having an effect. Macroeconomic statistics from Europe published yesterday turned out to be mixed. Markit Services PMI in the eurozone in September grew insignificantly from 56.3 to 56.4 points with a neutral forecast. The Composite PMI also recorded the minimum increase from 56.1 to 56.2 points over the same period. [b] Support and resistance [/b] Bollinger Bands in D1 chart demonstrate a stable decrease. The price range is almost unchanged, but it remains rather spacious for the current level of activity in the market. MACD returns towards declining preserving a buy signal (located above the signal line). Stochastic is showing more confident growth and has not yet responded to the resumption of the decline in the instrument over the past few days. Resistance levels: 1.1600, 1.1650, 1.1700, 1.1754. Support levels: 1.1546, 1.1500, 1.1460, 1.1422. [img]http://businesspr-finance.com/wp-content/uploads/2021/10/EURUSD061021-33.png[/img] [img]http://businesspr-finance.com/wp-content/uploads/2021/10/EURUSD061021-333.png[/img] [b] Trading tips [/b] To open new short positions, one can rely on the breakdown of 1.1546. Take-profit – 1.1460. Stop-loss – 1.1600. Implementation time: 1-2 days. A rebound from 1.1546 as from support followed by a breakout of 1.1600 may become a signal for new purchases with the target at 1.1700. Stop-loss – 1.1546. [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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