FX.co ★ Forecast for EUR/USD on October 29, 2024

Yesterday went quite well for the euro, although support from other counter-dollar currencies and stock markets was somewhat weak. The Marlin oscillator is gaining momentum toward the uptrend territory, pulling the price along with it.

Our previous expectation of price consolidation within the 1.0882-1.0950 range leading up to the U.S. election day is still on track.

On the four-hour chart, the price has turned from the support of the MACD indicator line and is now trying to consolidate above the balance line. The Marlin oscillator is firmly in the growth territory. The target is 1.0882.