The EUR/USD pair may continue to correct lower in the next session, although the chances of a sharp decline, are limited, according to the Chief Analyst at FXStreet Valeria Bednarik.
The key is what others have said
“According to the German ZEW Economic sentiment in the EU, the improvement of 46 in September, much better than the -12.1 forecasts, while for Germany, it has also improved to 51, from 28.2.”
“Also weighing on the common currency, the French Finance Minister Bruno Le Maire said that ” the EU’s recovery fund proposed by Germany and France, and probably will not be available until 2021.”
“The 4-hour chart shows that the pair is firmly above all of its moving averages with 20 SMA still below the size. The technical indicators, in the meantime, we are in loss of speed and the levels of overbought.”