EURUSD Technical Analysis October 16th

EURUSD failed to hold above 1.18500 and ended the week 1.18170.

We will try to analyze at the picture from two different points of views. EURUSD Bulls and Bears point of views.

From Bulls Side: EURUSD is making correction of 200 pips move. It made the double bottom and it is just consolidating. They will use pullbacks as buying opportunities. Bulls mid-term target is 1.22500 – 1.23500 region.

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EURUSD-DAILY-CHART

Source: http://www.fxters.com/eurusd-technical-analysis-october-16th/

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