Technical analysis of EUR/USD for October 16, 2018 888011000 110888 EUR/USD remains in a short-term bullish pattern. Rate is now challenging short-term resistance at 1.16-1.1610. Breaking above it will open the way for a relocation towards 1.1670-1.1740. A rejection at existing levels will press prices back towards 1.15 at least. Blue lines-pitchfork Green line-RSI assistance EUR/USD has actually made an essential low at 1.1432 and is now attempting to make a complete scale turnaround to the advantage. I expect prices to move higher towards 1.17 but a break above 1.18 will make me raise my targets towards 1.19-1.20. In the short-term keep a close eye on the green RSI assistance trend line. As long as the RSI is above it we should continue greater. Breaking it will be a signal that a pull back is coming.Resistance at 1.1610 is key for the short-term. Breaking it will push rates towards 1.1660-1.1740 area. I continue to see pull backs as purchasing opportunities.The product has been supplied by InstaForex Company -www.instaforex.com

By | October 16, 2018

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