FX:EURUSD   Euro / US-Dollar
99 0 2
Current trend
Since today’s opening, the Euro             is falling.
The focus of the markets today is the ECB meeting where the regulator is going to decide on interest rates change in the eurozone. Majority of economists think that rates and monetary policy will remain unchanged at the current 0.05%. The ECB could take a break and wait for the interest rate decision in the US from the Fed that is going to be made on 28 October. However, ECB President Mario Draghi may hint on the QE program expansion in the eurozone in the light of the most recent data showing lack of inflation growth.

Support and resistance
On the daily chart , the price has formed a contracting triangle pattern with its bottom side at the levels of 1.1210, 1.1110 that form a support zone together with the levels of 1.1285 (23.6% Fibonacci correction), 1.1255. If this zone gets broken, the pair could fall to July lows at 1.0800.
The pair returned inside the range between the levels of 1.1380 (EMA200) and 1.1255 (EMA44 on the daily chart ), while a resistance level at 1.1500 (EMA50 on the weekly chart) remained untouched.
On the 4-hour and daily charts , OsMA and Stochastic recommend short positions.
Support levels: 1.1285, 1.1255, 1.1210, 1.1135, 1.1085.
Resistance levels: 1.1380, 1.1450, 1.1500.

Trading tips
Pending sell orders can be placed at the level of 1.1290 with targets at 1.1255, 1.1210, 1.1135 and stop-loss at 1.1340.
Pending buy orders can be placed at the level of 1.1355 with targets at 1.1400, 1.1455, 1.1500, 1.1550, 1.1590 and stop-loss at 1.1320.
More analytic from LiteForex:
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