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Masoud EUR/USD Forecast October 21



Hello koala king and folk.

Good day to you.

China’s consumer price index in September rose more than three percent over the previous year and the annual inflation rate in the country rose this month to the highest level in seven months. Some basic commodities and food prices increase was seen in the consumer price index in September.

European stock markets on Thursday showed a negative reaction despite the temporary resolution of the debt ceiling crisis by the Republicans and Democrats. Under this plan, the government will allow America to February next year to continue to borrow money to meet financial needs.
Market experts believed that this process of last minute agreements to avert default is wearing out the markets. With the escalation of the financial crisis in America, international institutions had warned the global economy about the harmful effects of the lack of agreement on raising the debt ceiling.

China’s economic growth this year achieved the highest level. Statistics show that the world’s second-largest economy had in the third quarter jumped three percent compared to the second quarter. The country has reached 7.8 percent of GDP. An economic analysis of the figures said that over time it is expected to decline over the next two to three years to probably between five to six percent.
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Technical perspective: As I mentioned in the previous analysis, the EUR/USD did after a short correction and approaching the support level, experienced a great climb. While it is above the 1.3450 level, the main trend is to the upside.
The EUR/USD has reached a critical resistance at 1.37 and which most likely the currency pair will be able to break it. But it is important that the EUR/USD above this level can be established first.

Have a nice time.

Masoud.

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