EURUSD Daily Forecast Oct 21 2015

Outlook in EURUSD remains on the downside as long as 1.1340/1.1379 resistance holds on a daily closing basis, support comes at the 1.1275 levels, a halt is likely, but a cut would open 1.1235 next, further down, support comes at the 1.1175 levels.

On the upside, resistance comes at the 1.1340 levels ahead of the 1.1379 levels, sustained breakout-daily closing- above the 1.1379 levels will pave the way towards the 1.1500 levels.

Conclusion: The EURUSD continues to face downside threats below 1.1379 levels even in case of a recovery…

Intraday: According to the 4-chart; As long as 1.1320 support holds on a 4-hour closing basis, the pair remains in a recovery mode and further upside couldn’t be ruled out, but recovery above the 1.1320 levels should be limited below 1.1400/1.1420 levels where fall resumption¬†is very likely… Below 1.1320 will turn focus on the 1.1275/1.1235 levels.

 

EURUSD Daily Forecast Oct 21 2015

 

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