EURUSD Daily Forecast: October 15

EURUSD Forecast

The EURUSD attempted to push lower last week but still found a good support around 1.2800 which is a weekly chart support (around the daily EMA 200). Hourly chart outlook still suggests a bearish condition but overall price remains in consolidation phase since three weeks ago and as long as moving inside the bullish channel and above 1.2800 – 1.2750 the major bullish scenario since bounced from 1.2041 remains valid. Immediate resistance is seen around 1.2933 (current high). A clear break above that area could trigger further bullish pressure testing 1.2970 – 1.3000 area.