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SamuelHorton

EURUSD 10/21 Review and Outlook

Euro / U.S. Dollar (FX:EURUSD)  
SamuelHorton Updated   
FX:EURUSD   Euro / U.S. Dollar
ecb EURUSD eurusdshort Tweezer Technical Analysis support Trend Lines Support and Resistance zone
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ecb eurusd eurusdshort tweezer technicalanalysis support trendline supportandresistance zone
The tweezer top formation retesting the 1.13750 major resistance zone proved to be a textbook setup. In addition to this, monetary easing by the ECB has added fuel to the fire.

For a short term outlook I expect a slight retest of the significant 1.11000 trend line, before price continues to the downside.
Comment:
Price moved as expected. Quite a lot of consolidation leading up to FOMC announcement. Price just touched the 1.11000 resistance level, confirming its significance. 1.08500 is the next level I have in mind for potential action.
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