EURUSD Weekly Forecast Oct 08 2018

EURO -dollar - 69875

EURUSD: Risk Shifts Lower To 1.1387 Level!

As long as 1.1850 resistance holds on a weekly closing basis, the EURUSD remains in a pullback mode and further down could be seen to the 1.1387 levels, a halt is likely and it may turn higher to test 1.1617 levels (broken support turned resistance). Anyway, below 1.1387 sees further weakness to the 1.1170 levels, next support comes at the 1.0922 levels.

On the upside, a weekly closing back above 1.1617 levels will release some pressure, but any upside move above 1.1617 should be contained well below 1.1850 levels where another fall is likely…

Conclusion: The EURUSD sees corrective pullback threats below 1.1850 levels.

Support: 1.1387, 1.1170, 1.0922

Resistance: 1.1617, 1.1850, 1.1995