EURUSD Daily Forecast Oct 19 2018

EURO - dollar - 65985-

EURUSD: Bearish, Eyes 1.1408 Levels!

As long as 1.1537 resistance holds on a daily closing basis, the EURUSD remains on the downside to 1.1408 level, a halt is likely, and it may test 1.1448/1.1478 levels before another fall, however, below 1.1408 aims 1.1343 levels, further down, support comes at 1.1290 level.

On the upside, resistance comes at 1.1478 ahead of 1.1537 (main), above that level will turn outlook neutral for 1.1577/1.1639 levels before another fall.

Conclusion: The EURUSD sees downside threats below 1.1537 levels.

Support: 1.1448, 1.1408, 1.1343, 1.1290

Resistance: 1.1478, 1.1537, 1.1577, 1.1639


Key data/events which may affect EURUSD today:

  • The U.S will report on existing home sales at 14:00 GMT. The indicator is expected to fall 5.30M, from 5.34 in the previous month. A reading above 5.30M will support the USD, while a reading below 5.30M will support the EURO.

U.S data may bring a selling opportunity today.