FX.co ★ berta.hill | EUR/USD

Before conducting technical analysis, I would like to point out that today we have several important news releases from the US on the fundamental side, including data on the core Consumer Price Index for September, reflecting the level of inflation in the country. Overall, there should not be deviations from the previous period, but one of the indicators in this set, namely the Consumer Price Index, still anticipates a slight increase from 2.90% to 3.10%, which should have a positive impact on the strength of the US dollar even if the forecasts are met. I won't comment on other data since everything here will depend on the actual figures, so starting from 15:30 Moscow time, the technical analysis may take a back seat. However, at the moment, both the fundamental outlook and the technical forecast align for the EUR/USD currency pair, with the priority direction being to the south. In particular, on the four-hour chart, we can see that the previous bullish correction ended near the TMA indicator's median with the ZigZag indicator marking when the Stochastic reached the overbought boundary and is already turning south. On the chart, we can observe that the pair is preparing to test the 14-period moving average line and break below the 1.16 level. I believe everything should work out for them, after which the EUR/USD pair will decline to the pair's minimum at 1.1580, and on the news, quotes may drop towards the middle of the 1.15 level.