EURUSD became severely oversold short term & bottomed at 1.2612. A short term bounce halted below resistance at 1.2688/93 however. Immediate
EUR/USD Daily Forecast - 24 October 2014EURUSD became severely oversold short term & bottomed at 1.2612. A short term bounce halted below resistance at 1.2688/93 however. Immediate resistance at 1.2686/92 again today but be aware a break higher targets 1.2730/40 for a selling opportunity with stops above 1.2760.
Outlook remains negative in the bear trend. A break below immediate support at 1.2620/12 keeps the market under pressure to target 1.2605/00 then 1.2585/80. If this does not hold the downside in the bear market, look for 1.2550/45 then a retest of October lows at 1.2500.
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