EURUSD Daily Forecast Oct 08 2015


Outlook in EURUSD remains neutral at the moment, the pair is in a recovery mode as long as trades above the 1.1193/1.1174 levels on a daily closing basis, but recovery above the 1.1174/1.1193 levels should be limited by the 1.1295/1.1330 levels, however, a clear break above the 1.1330 levels will extend recovery towards the 1.1460/1.1514 levels before the next possible fall.

On the downside, stability below the 1.1295/1.1330 levels, will keep pushing lower towards the 1.1193/1.1174 levels, a halt followed by a rebound is likely, anyway, a clear break below 1.1174 will turn focus on the 1.1117 levels, with a break below this level, paving the way towards the 1.1017 levels. Conclusion: The EURUSD continues to face downside threats in the short term below the 1.1295/1.1330 levels, even in case of recovery.

Intraday support comes at the 1.1290 levels, an hourly closing below this level will open 1.1260, further down support comes at the 1.1230 levels, above 1.1290 will keep pushing towards 1.1330 levels.


EURUSD Daily Forecast Oct 08 2015