13-10-2020 - Forextra Euro Forecast

13-10-2020 – Euro Forex Forecast

Euro Forex Forecast Report

By clicking on the link you can read the full Euro Forecast Report as of October 13, 2020. Including the euro’s expectations against various currencies, trends, key support and resistance levels and more.

 

Summary

  • Euro value is (mainly) negative  from a global perspective.
  • The Forextra Energy parameter is negative .
  • Forextra Energy signals negative / neutral capital concentration.

 

  • Possible tops: EUR/BRL, EUR/CNH

 

Agenda

13-10-2020 - Forextra Agenda

Source: DailyFX.com

 

Forextra Energy

13-10-2020 - Forextra Euro Energy

  • The value of the Forextra Energy parameter is negative. This means that from a global perspective, the euro weakens. There is a negative sentiment.
  • The Forextra Energy is moving towards extremes. This means that the value development of the euro is confirmed from a global perspective. This also increases the likelihood of a greater potential opposite movement or correction in the value development of the euro from a global perspective.
  • Support levels can be broken in the direction of the larger negative trend.

 

Global View

13-10-2020 - Forextra Euro Globalview

You can see in one overview; the degree of volatility, the trend of the last few days, which currencies make a possible top or bottom and to what level the euro (expressed in that currency) can move in the short term.

 

Possible Top

The following currencies show a possible short term top. This means that the Euro may weaken for the short term against the currencies listed below.

  • EUR/BRL
  • EUR/CNH

 

Forextra Forecast Model

The Forextra Forecast Model is inspired by the “invisible hand” philosophy of renowned economist Adam Smith. It looks from a global perspective to determine whether the euro is in a positive or negative trend.

When a trend is analyzed from one currency, the perspective is limited. What appears to be a positive trend or negative trend in such a case can be very different from an international perspective. Global trends are the result of the trends that become visible from every perspective and are thus not limited to one currency. With the Forex Forecast Report you can see the value of the euro from a global perspective.

 

Learn more on how the report and the forecast model works and click on the link; the forextra forecast model

 

 

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