Market Outlook of EURUSD on Monday October 2023

Technical Analysis
EURUSD have big potential to sell around 1.05559. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for sellers is weakening


Fundamental Analysis
As of October 9, 2023, the US dollar index (DXY), which measures the value of the US dollar against a basket of six other major currencies, is at 108.7. This is the highest level for the DXY since 2002.

The strong US dollar has a number of implications for the US economy and for businesses and consumers around the world.

For the US economy, a strong dollar can make exports more expensive and imports less expensive. This can lead to a slowdown in economic growth. However, it can also benefit US consumers and businesses that purchase imported goods and services.

 DISCLAIMER:The information on this analysis is based on research and experience, and it is not guaranteed to be accurate or complete