Trading The ECB: the most likely scenario, key levels and EUR/USD forecasts (based on efxnews article)
As ECB will take center stage this week so Barclays Capital made some fundamental and technical forecasts concerning EUR/USD.
Trading setup for EUR/USD by Barclays Capital (based on efxnews article)
Barclays Capital made a technical forecast for EUR/USD explaining their position opened with key targets:
So, they opened sell trade at 1.1335 with 1.1260 as an initial target having re-enter to 1.1105/1.1085 targets in case the price will move to below 1.1260. If we see from the chart above - there are the following targets for this pair:
Thus, if the price breaks 1.1086 support level from above to below so the next profit targets will be 1.0807, if the price breaks 1.1713 resistance level from below to above so profit level will be 1.1956.
EUR/USD - in view of ECB meeting (based on efxnews article)
United Overseas Bank made a fundamental forecast concerning ECB’s meeting later today:
we see from the image above - the nearest support level is 1.1305
located on the border between the primary bearish and the primary
bullish on the chart, and if this level is going to be broken so we may
see the bearish reversal to be started by the daily price for example.
Post ECB rate decision event review - BNP Paribas (based on efxnews article)
The ECB left policy unchanged and Mario
Draghi delivered the maximum level of dovishness at the press
EUR/USD: levels and targets by Societe Generale (based on efxnews article)
Societe Generale made a weekly technical forecast concerning the EUR/USD:
As we see from the chart above - the nearest support level is 1.1086, and it is going to be crossed on the weekly open bar. The next support levels as the next bearish taregts are 1.0807 and 1.0607. And the 'final' taregt si 1.0461.
EUR/USD Forecast Oct. 26-30 (based on forexcrunch article)
EUR/USD totally collapsed after Draghi hit it hard. Will it be able to stage a recovery or does it have lots more to fall from here? An important German survey and inflation numbers stand out. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD.Expectations were high for the ECB meeting and Draghi easily leaped over them, over-delivering on thick hints: from expanding and extending QE through opening the door for a rate cut and also some skills, such as the use of the word “vigilant”. This resulted in a crash worth over 300 pips that lasted well over a day and pierced through uptrend support. The dollar also enjoyed some back wind from better home sales and jobless claims. Good euro-zone PMIs only temporarily helped the euro.
EURUSD Intra-Day Technical Analysis - stop near key support for the bearish breakdown to be continuing (based on efxnews article)
Skandinaviska Enskilda Banken made intraday technical forecast for EUR/USD pair estimated new support level around 1.08 with stop loss at about 1.15:
"With additional selling on Friday prices broke and closed below the
March support line, the floor of the large bear flag. The break now
suggests that we have left the seven months long correction having
resumed the longer term underlying bear trend. The next key support is
1.0869- 1.0808. Short term there is however a growing risk for at least a
minor reaction higher. Lower the stop from 1.1510 to 1.1306."
From the technical point of view - the intra-day price was stopped by 1.0996 support level on the way to the bearish breakout to be continuing, and reversal resistance level is 1.1339.
Trading ideas for EUR/USD by UBS Group (based on efxnews article)
UBS Group made a weekly technical forecast making the trading recommendations for the EUR/USD pair related for the trading.
The price is trading to be below Ichimoku cloud for the crossing 23.6% Fibo support level at 1.1021 from above to below for the bearish trend to be continuing. The nearest bearish target is Fibo support level at 1.0811, and if the price crosses this target so we may see the good bearish breakdown up to 1.04/1.05.
If the price will break 1.1021
support level on close W1 bar so the primary bearish will be continuing up to 1.0811 as the next target.If the price will break 1.0811
support level on close W1 bar so we may see good breakdown within the primary bearish market condition.If not so the price will be ranging within the levels.
EUR/USD: Levels & Targets - UOB (based on efxnews article)
EURUSD traded sideways as expected, notes UOB Grou:
Technical Ideas for EUR/USD by SEB (based on efxnews article)
Enskilda Banken made intraday technical forecast for EUR/USD pair
estimated new support level at 1.0896:
"The rejection from the recently broken flag floor and the break below
the support was exactly what was needed to trigger the next part
of the decline. Selling will likely take short pause arriving at 1.0896
but probably not for long. The current wave three should stretch out for
the 1.05-area before any more profound reaction likely to occur."