EURUSD Weekly Analysis – October 30, 2016

EURUSD’s downward movement from 1.1366 extended to as low as 1.0851. Further decline is till possible after a minor consolidation, and next target would be at 1.0600 area. Resistance is at 1.1060, only break above this level will indicate that the downtrend had completed at 1.0851 already, then the following upward movement could bring price to 1.1500 zone.

eurusd chart