EURUSD – 05.10.2016

Being influenced by the news related to the closing of QE programs, the EUR/USD pair has formed a strong ascending impulse from 1.1140. An alternative scenario implies that the price may continue moving upwards to reach 1.1260. If later the price forms another consolidation channel there and breaks it upwards, the market may reach 1.1350. However, this news is just rumors so far, and if it is not confirmed today, the instrument is expected to move according to the main scenario – continue falling inside the downtrend to reach 1.1100.