Chapter 17 EURUSD going down to 0.98100
EURUSD
31/10/2022
Fundamental analysis
we can see the EUR price go down today after the inflation news come Lower than the previous at 9.9% and CPI news was released at 119.26 Which was lower than the previous
at 120.81 And we know this week on Thursday we have an interest rate decision in USA (FOMC) With the expectation of an increase in interest rate to 4% This will lead the price to go more down
Technical analysis
We can see in one hour chart we have a downtrend in the channel So we expect the price to pull back up to the supply zone at 38.2 Fibonacci retracements and then I will continue down after touching the 20 moving average pointing down to the first target at 61.8 Fibonacci retracements the second target 0.98100
