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29.10.202405:39 Forex Analysis & Reviews: Forecast for EUR/USD on October 29, 2024

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Yesterday went quite well for the euro, although support from other counter-dollar currencies and stock markets was somewhat weak. The Marlin oscillator is gaining momentum toward the uptrend territory, pulling the price along with it.

Exchange Rates 29.10.2024 analysis

Our previous expectation of price consolidation within the 1.0882-1.0950 range leading up to the U.S. election day is still on track.

Exchange Rates 29.10.2024 analysis

On the four-hour chart, the price has turned from the support of the MACD indicator line and is now trying to consolidate above the balance line. The Marlin oscillator is firmly in the growth territory. The target is 1.0882.

Laurie Bailey
Analytical expert of InstaForex
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