Technical analysis of EUR/USD for October 25, 2018
October 25, 2018 8:24 am
EUR/USD has broken below the critical support of 1.1450-1.1430 and has pushed as low as 1.1378. The price is now bouncing and I expect the previous support (now resistance) to be back tested. I expect prices to get rejected at this resistance area.
Purple line – resistance
Blue rectangle – resistance
EUR/USD is bouncing towards the resistance of 1.1430-1.1450. Next resistance is located at 1.1470 by the downward sloping trend line. Support is at yesterday lows. I expect these levels to be broken downwards and prices to move lower towards 1.13-1.12 over the coming weeks. I’m bearish as long as the price is below 1.1620.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD has broken below the critical support of 1.1450-1.1430 and has pushed as low as 1.1378. The price is now bouncing and I expect the previous support (now resistance) to be back tested. I expect prices to get rejected at this resistance area.
Purple line – resistance
Blue rectangle – resistance
EUR/USD is bouncing towards the resistance of 1.1430-1.1450. Next resistance is located at 1.1470 by the downward sloping trend line. Support is at yesterday lows. I expect these levels to be broken downwards and prices to move lower towards 1.13-1.12 over the coming weeks. I’m bearish as long as the price is below 1.1620.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: