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EURUSD: Bounces Off 1.1016/17 Zone, Faces Recovery Threat

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 27, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    EURUSD: The pair halted its weakness and turned higher on Monday leaving risk of more recovery on the cards. While the 1.1016/17 level zone continues to provide support, we should see a move higher on correction. On the downside, support lies at the 1.1000 level where a violation will aim at the 1.0950 level. A break of here will turn risk to the 1.0900 level with a move below that level targeting the 1.0850 level. Its daily RSI is bearish and pointing lower supporting this view. On the

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