EURUSD
The downward momentum that began after the September peak was halted at the 1.1108 level, but the exchange rate has not yet reversed. Signs of exhaustion on the dollar’s buying side can also be seen on the chart, but this would only hold true until the 1.1108 level is broken, because then a clear trend-confirming pattern could form with target prices well below 1.10. On the downside, 1.0986—or even 1.0742—could come into play. For a structural shift to occur, the pair would need to close above 1.1230; only then would there be a chance for a reversal.
Resistance levels: 1.1230; 1.1352; 1.1475; 1.1562; 1.1719; 1.1841; 1.1962; 1.2085.
Support levels: 1.1108; 1.0986; 1.1742.
