Forex Forecast October 2020 | EUR USD JPY GBP Analysis - News-Credit-Mortgage-Coin

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Thursday, October 1, 2020

Forex Forecast October 2020 | EUR USD JPY GBP Analysis


Last week the forex Euro/Dollar pair found a bid at 1.1610, which is a rather significant level for the Euro. Forex monthly charts dating back to 2016 will testify to that, however, the EUR/USD forecast is clouded by the bearish engulfing candle of September’s chart. But for the short-term at least, the forex forecast (EUR/USD) will largely be determined by whether or not the pair managed to clear the resistance area of 1.1680-1.1700.

On that note, the Euro is also getting pressure from GBP, as the pound to Euro ratio saw some upward movement, as public borrowing figures came in lower than expected.

Watch the full video for a deeper look into the forex October forecast. And stay tuned for our best forex strategy to navigate the market during these uncertain times!
On other fronts, the USD/JPY analysis hasn’t seen much change this week. And the overall USD/JPY forecast is speckled with bearish notes as it is. That is, of course, unless the USD/ JPY forex pair manages to rotate back up and clear the 106.50 resistance level. But most forex analysts deem this scenario unlikely at best. If anything, the forex October predictions are for a continued steady downward trend.



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