Weekly Forex Trading Signals For 10.14- 10.20.2024
US100 moves within an ascending triangle pattern, while the MFI oscillator shows overbought conditions for the asset.
•If US100 breaks the 20300 resistance, the upside could extend to 20900.
•A break below the 20000 support would trigger a correction to 19400.
In the Daily timeframe, EURUSD breaches below the trendline and 1.0980 support. The price currently faces support at the 100-MA, and the Stochastic leaves the oversold zone.
•A break below the 100-MA would continue the decline to 1.0820;
•A breach above the 1.0980 resistance could bring EURUSD back to 1.1200.
GBPUSD breaches below the rising wedge and the 1.3110 support. The Momentum oscillator crosses below the 100-line, confirming a bearish scenario.
•Consider a short on GBPUSD with the target at 1.2910 support.
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