FX.co ★ Mid-term outlook of EUR / USD pair for October 20

The upward movement from the medium-term point of view is an impulse, which indicates the need to hold a long position and offers opportunities to find advantageous purchase prices.

The growth of the current week was at the high of the previous week, which indicates the presence of large orders. To continue the growth will demand the closure of the American mark. The average weekly move is higher than the August high, so continued growth could allow the pair to gain a foothold above the August high. If this happens, sales.

The weekly range of possible growth is 176 points, whereas 65 points have already passed within the framework of the ascending model. This suggests that for profitable shopping, the stop should not exceeding 30 ppt.

The presence of such a strong bearish interest above the level of 1.1718 indicates the possibility of a continuous formation of the accumulation zone. If no daily trading session closes above the marked resistance, then work will continue with the ability to seek correctional sales within the range. Defining resistance will be made by 1/2 control zone of 1.1633-1.1624. Growth will remain as an impulse while the pair is trading above this zone. To disrupt the bullish model, one of the American sessions below the zone will be closed.

The weekly CP is the weekly control zone. The zone formed by marks from important futures market which change several times a year.

The weekly CP is the weekly control zone. The zone formed by marks from important futures market which change several times a year.

The monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.