EURUSD did head lower as predicted to our target of 1.2645/40 for a buying opportunity & bottomed exactly here. However outlook remains negative &
EUR/USD Daily Forecast - 15 October 2014EURUSD did head lower as predicted to our target of 1.2645/40 for a buying opportunity & bottomed exactly here. However outlook remains negative & we are lower over night. We look for a test of support at 1.2620/15 but unlikely this will hold for long. Any longs need stops below 1.2600 therefore to target 1.2580/70. If we continue lower today look for 1.2550/45 then a retest of October lows at 1.2500.
Immediate resistance at 1.2680/85 could hold a move higher & is worth trying shorts with stops above 1.2720. An unexpected break higher however could target 1.2760/65 for a selling opportunity with stops above 1.2790.
FX Empire editorial team consists of professional analysts with a combined experience of over 45 years in the financial markets, spanning various fields including the equity, forex, commodities, futures and cryptocurrencies markets.
