EURUSD Daily Analysis – October 19, 2016

EURUSD moved sideways in a rang between 1.0963 and 1.1058. As long as 1.1058 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 1.1279, and further decline to 1.0900 area could be expected after consolidation. On the upside, a break of 1.1058 resistance will indicate that the downtrend had completed at 1.0963 already, then the following upward movement could bring price to 1.1200 zone.

eurusd chart