01.11.202406:35 Forex Analysis & Reviews: Forecast for EUR/USD on November 1, 2024

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Donald Trump has surpassed Kamala Harris in all major polls, leading by 0.3%. The electoral balance also favors Trump at 270/251. We expect Trump to win.

Major tech companies reported weak quarterly earnings, causing the S&P 500 to fall by 1.86% and the Nasdaq to plunge by 2.76%. This downturn is close to a crisis-level development. However, the euro now has its momentum, rising by 24 pips to hit the target level of 1.0882. The upward trend continues this morning, with the target at 1.0935/50 within reach. The Marlin oscillator crossed into the growth territory in time, fully aligning with the upward movement.

On the four-hour chart, the price has consolidated above the 1.0882 level. The Marlin oscillator is completing its consolidation in the upper positive half, with a higher probability of an upward breakout. We anticipate further price growth.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.