EURUSD Weekly Analysis – October 29, 2017

EURUSD broke below 1.1662 key support, indicating that the bullish movement from 1.0340 had completed at 1.2092 already. Further decline could be expected and next target would be at the resistance-turned-support trend line on the weekly chart now at around 1.1400. A clear break below this trend line could trigger further downside move to 1.1100 area. Resistance levels are at 1.1730 and 1.1879, only breakthrough these levels could bring price back towards 1.2092.

EURUSD daily chart