Volumetric analysis on October 22
All the main publications of macroeconomic data are found in the second half of the week, respectively, special movements today cannot wait. And most of the ideas suggest to waiting for the initiative of market participants. For example, EURUSD - Friday was a corrective day. In any case, so far so. But on Friday, the prerequisites for a reversal of the trend appeared. Let's just say, there are several signs of this reversal. However, there is no overall picture for this pair. Accordingly, we still have no reason to believe that something has changed in the market, which means that the depreciation is still considered the main direction. As an idea of a moderate degree, we can attribute the idea of selling from resistance 1.1550-1.1505 to the level of 1.1470. The proposed movement is small, but it seems that only we can count on this today.
News, published on Friday, made the quote to bounce in the price range of 1.3095-1.3150, which we considered as resistance on Friday. However, only those who had a pending order there were able to enter. These people can be envied, since they experienced a drawdown for less than a minute. These people should wait for the 1.3045 target. By the way, at the time of this surge in the adjacent derivatives market, the CME exchange rather quickly came up with an offer that can be interpreted as a reaction of the sellers to the growth of the asset. In general, there is no reason to believe that the downward trend has ceased. However, it is still more correct to wait for the strength of the sellers, a breakdown of 1.3010 and only after that make trading decisions for sale. Alas, the probability of the onset of it all within the current day is not great.