Analysis and forecasts for EUR / USD 10/13/16
After the recent strong decline should expect a correction. The downward movement already has almost 200 pips.
Resistance level of 1.1050 and 1.1079.
It is worth emphasizing that when it comes to breaking the Wednesday minimum (1.1004), the supply should be directed toward support 1,0970-80 and only with this price level, we should expect a corrective movement. After completing the adjustment expect further declines.
The embodiment of motion correction is denied, in the case of overcoming support at 1.0970. The next target for the supply of support is at 1.0952 and 1.0909.
In the longer term, the dollar should continue to gain, due to expectations of another rate hike in the US. Further declines should be interrupted local adjustments.
Resistance level of 1.1050 and 1.1079.
It is worth emphasizing that when it comes to breaking the Wednesday minimum (1.1004), the supply should be directed toward support 1,0970-80 and only with this price level, we should expect a corrective movement. After completing the adjustment expect further declines.
The embodiment of motion correction is denied, in the case of overcoming support at 1.0970. The next target for the supply of support is at 1.0952 and 1.0909.
In the longer term, the dollar should continue to gain, due to expectations of another rate hike in the US. Further declines should be interrupted local adjustments.
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