14-10-2020 – Euro Forex Forecast

Euro Forex Forecast Report

By clicking on the link you can read the full Euro Forecast Report as of October 14, 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 / neutral.
  • Forextra Energy signals negative / neutral capital concentration.

 

  • Possible tops: EUR/BRL
  • Possible bottoms: EUR/NOK

 

Agenda13-10-2020 - Forextra Agenda

Source: DailyFX.com

 

Forextra Energy

  • The value of the Forextra Energy parameter is negative/neutral. This means that from a global perspective, the euro weakens. There is a neutral / negative sentiment.
  • The Forextra Energy is neutral. This means that the value development of the euro is divided from a global perspective. The chance for a possible larger opposite movement or correction in the value development of the euro from a global perspective is therefore limited.
  • Support or Resistance can be found at the support or resistance levels listed in the report.

 

Global View14-10-2020 - 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

 

Possible Bottom

The following currencies show a possible short-term bottom. This means that the Euro can strengthen against the currencies below for the short term.

  • EUR/NOK

 

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

 

 

Disclaimer:

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