EURUSD Weekly Forecast Oct 29 2018

EURO-Dollar-min

EURUSD: Bearish, Eyes The 1.1200 Level…

The EURUSD maintained a bearish momentum last week, topped at 1.1549 level and bottomed at 1.1335 level. this development leaves the pair targeting the 1.1200 level. A halt is likely and it may test 1.1335 before going down again, anyway; below 1.1200 aims 1.1040 level, further down, support comes at 1.0855 level.

On the upside, Resistance comes at 1.1549 level, a weekly closing above that level will turn outlook neutral for testing 1.1814 level where rejection is likely, above 1.1814 will extend the corrective recovery to 1.2054 level.

Conclusion: The EURUSD sees downside threats below 1.1549 level in the medium-term forecast.

Support: 1.1335, 1.1200, 1.1040

Resistance: 1.1549, 1.1814, 1.2054

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