EUR/USD Outlook (26 October 2021)
OCT 26, 2021
Overall, EUR/USD is trending downwards. Recently, EUR/USD broke the support zone of 1.16300.
The German ifo Business Climate data (Actual: 97.7, Forecast: 98.2, Previous: 98.9 revised from 98.8) released yesterday indicated that businesses are less optimistic on the current business conditions and expectations for the next 6 months.
Currently, EUR/USD is moving towards the resistance zone of 1.16300 and the next support zone is at 1.15000.
Look for short-term selling opportunities of EUR/USD if it bounces off the resistance zone of 1.16300.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.