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Wait | 24 October 2018

24 October 2018, EUR/USD

Technical observation

EUR/USD is still above the support 1.1448 and is not showing any clear indications of breaking below it, however price is moving on an increasing bullish momentum and I expect either a clear breakout below 1.1448 or a rise to the resistance zone 1.1540-1.1533,should price cross below 1.1448 I expect nothing but a decline of it towards the support 1.1344, and in case of a rise to 1.1540-1.1533,I expect a bounce of it within the zone followed by bearish momentum of price towards 1.1448.Long positions may only be recommended in case of a clear breach above 1.1540-1.1533 with a big green candle and a correction to it.

Technical levels

Resistance levels

R1.1.1509

R2.1.1511

R3.1.1518

Pivot

1.1509

Support levels

S1.1.1502

S2.1.1498

S3.1.1491

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Imelda Maseno
Analyst of «FreshForex» company
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