EURUSD Daily Forecast Oct 03 2018

EURO -dollar - 69875

EURUSD: Testing Key Resistance 1.1590

As long as 1.1590 resistance – broken support turned resistance – holds on a daily closing basis, the EURUSD remains on the downside to the 1.1530 levels, a halt is likely and it may test 1.1590 levels -as happens today- before another fall, below 1.1530 – daily closing basis – will aim the 1.1478 levels, further down, support comes at the 1.1407 levels.

On the upside, above 1.1590 will look for the 1.1638 levels before another fall, above1.1638 will target the main resistance at the 1.1756 levels.

Conclusion: The EURUSD continues to face downside threats below 1.1590 levels.

Support: 1.1530, 1.1478, 1.1407, 1.1345

Resistance: 1.1590, 1.1638, 1.1756, 1.1815

Note that minor resistance comes at the 1.1617 levels, a 4-hour closing above 1.1617 may expose (challenge) the 1.1638 levels…

H4 support and resistance: 1.1513, 1.1545, 1.1617, 1.1720, 1.1770

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