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EURUSD Forecast and Technical Analysis October 9-13

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This article is published in collaboration with Scutify, where you can find real-time markets and stock commentary from Robert Marcin, Cody Willard and others. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

EURUSD reversed from 1.16680 and rose 60 pips during the last hour after reports of a potential missile test from North Korea this weekend.

Fundamentals:

EURUSD keeps looking south, as prospects of a third rate hike by the Federal Reserve at the November meeting remain well and sound, particularly after the auspicious results from September's average hourly earnings, a key gauge of wage inflation closely followed by both the Fed and investors.

In the meantime, recent Fedspeak has been USD-supportive, while the likelihood that the Trump's tax reform proposal could pass legislation in the next months is also another key driver sustaining the buck's rally, all helping the US Dollar Index to climb to fresh multi-week peaks in tandem with US yields.

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This article was written by Emre Tutucu for http://www.fxters.com/eurusd-forecast-technical-analysis-october-9-13/ on .

This article published in collaboration with Scutify, the best app for traders and investors. Download the Scutify iOS App, the Scutify Android App or visit Scutify.com.

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