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EURUSD Daily Forecast: October 12

Tuesday, October 11, 2016 19:33
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(Before It's News)

EURUSD Forecast    
The EURUSD had a significant bearish movement yesterday broke below 1.1125 key support and hit 1.1041 earlier today. The bias is bearish in nearest term as a part of a descending triangle bearish scenario targeting 1.1000. A clear break and daily close below that area would expose 1.0910 region. Immediate resistance is seen around 1.1125. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.



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