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FX.co ★ Evening review on October 16, 2020

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Forex Analysis:::2020-10-16

Evening review on October 16, 2020

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The downward breakdown of the EURUSD pair turned out to be false.

You may buy the euro from 1.1720.

It is possible to buy in case of a breakdown from 1.1760 with a stop at 1.1715.

There is no major news, but volatility may increase at 12:30 UTC.

The upward trend may continue with a potential target of up to 1.2450.

Sam Alan
Analyst InstaForex
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