EURUSD Weekly Forecast Oct 15 2018

EURO - dollar -65986

EURUSD: Corrective pullback Remains Intact!

As long as 1.1622 resistance holds on a weekly closing basis, the EURUSD remains in a corrective pullback mode and further down could be seen, support comes at the 1.1435 levels, a halt is likely, but a cut through 1.1435 will aim the 1.1170 levels, further down, support comes at the 1.0922 levels.

On the upside, a sustained breakout – weekly closing – above 1.1622 levels will turn the focus on the 1.1745/1.1850 levels, it may turn lower from here, however; above 1.1850 will challenge¬†1.2000 levels…

Conclusion: The EURUSD continues to face corrective threats below 1.1622 levels with a risk to the 1.1435 levels, above 1.1622 sees recovery threats to the 1.1745/1.1850 levels.

Support: 1.1435, 1.1170, 1.0922

Resistance: 1.1622, 1.1745, 1.1850

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