EURUSD Weekly Forecast Nov 02 2015

Medium term outlook in EURUSD remains on the downside as long as resistance 1.1386 holds on a weekly closing basis, support comes at the 1.0975 levels, a cut through the 1.0975 levels will turn focus on the 1.0800 levels next, a halt is likely and a reversal may occur, however, further down, support comes at the 1.0550 levels.

On the upside, a failure to holds below the 1.0975 levels could push the pair back towards the 1.1100 levels, a break would open mains resistance at the 1.1385 levels, above 1.1385 will turn out neutral towards the 1.1713 levels before the next fall.

Conclusion: The EURUSD continues to face downside threats in the medium term below 1.1386 levels, above 1.1386 faces a recovery risk towards the 1.1713 levels.


EURUSD Weekly Forecast Nov 02 2015




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