EURUSD Daily Forecast Oct 31 2016

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EURUSD: Bearish But Around Support!

As long as 1.1400 resistance holds on a daily closing basis, the EURUSD remains on the downside, support comes at 1.1340 level, a halt is likely but a cut through support will aim 1.1275 level, further down, support comes at 1.1210 level ahead of 1.1170 level.

On the upside, resistance comes at 1.1400 levels, above 1.1400 sees limited gains to 1.1448 before another fall, If 1.1448 fails to hold, the pair will extend gains to 1.1549 level.

Conclusion: The ERUSD continues to face downside threats below 1.1448/1.1400 level, above 1.1448 sees recovery threats to 1.1549 level.

Support: 1.1340, 1.1275, 1.1210, 1.1170

Resistance: 1.1400, 1.1448, 1.1549, 1.1639

MARKET DATA

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