Goldman Sachs made a review of fundamental expectation and some forecasts concerning the EUR/USD pair movement this week started once again about 1.05 bearish target for this pair to be very real one:
- past events: September 4, 2014, the ECB press conference.
- recent/future events: December 3 meeting.
From the technical point of view - the nearest support level for this pair is 1.0896 with 1.0461 as the next bearish target. If the price breaks 1.0896 support level from above to below so 1.05 (1.0461) may be the nearest support level and it may be broken soon or later anyway for example.
If the price will break 1.0807 support level so the bearish condition will be continuing up to 1.0461 as the next bearish target.
If the price will break 1.1713 resistance from below to above so the secondary rally will be started within the primary bearish market condition.
If not so the price will be ranging between the levels.
Trend:
