EURUSD Forecast 
The EURUSD was indecisive last week. Price attempted to push lower bottomed at 1.1432 but closed higher at 1.1558 after printed a bullish pin bar on October 09 as you can see on my daily chart below. The bias is neutral in nearest term but only a clear break below 1.1430 would invalidate the bullish pin bar scenario and reactivate my bearish mode targeting 1.1300 region. Immediate resistance is seen around 1.1610 area. A clear break and daily close above that area would expose 1.1650 region. Immediate support is seen around 1.1530/00 region. A clear break and daily close below that area would retest 1.1430. On the upside, a clear break and daily close above 1.1650 would expose 1.1725 – 1.1815 key resistance area which is a good place to sell.


FX Instructor Forex Blog – For Traders, By Traders

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.