EUR/USD, Tuesday Forecast, October 29
Today market does not have any important news, so it will be sideways in range and only tomorrow on Wednesday will have trend impulse after strong US news such as “ADP” and “Fed % rates”.
The uptrend may be expected to continue, while the EUR/USD pair is trading above support level 1.1108, which will be followed by reaching resistance level 1.1072 and if it keeps on moving up above that level, we may expect the EUR/USD pair to reach resistance level 1.1029. A downtrend will start as soon, as the EUR/USD pair drops below support level 1.1108, which will be followed by moving down to support level 1.1150 - 1.1170.
(Click on image to enlarge)
Weekly Forecast, October 28 - November 1
The uptrend may be expected to continue, while the EUR/USD pair is trading above support level 1.1072, which will be followed by reaching resistance level 1.1150 and if it keeps on moving up above that level, we may expect the EUR/USD pair to reach resistance level 1.1200.
A downtrend will start as soon, as the EUR/USD pair drops below support level 1.1027, which will be followed by moving down to support level 1.0987.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.