EURUSD Next Week Outlook - bear market rally to be started
15 October 2015, 12:11
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W1 price is located below 200 period SMA and below 100 period SMA for the primary bearish ranging between 61.8% Fibo support level at 1.1152 and Fibo resistance level at 1.1713:
- 38.2% Fibo support level at 1.1368 is going to be crossed by the price from below to above for the 1.1713 as the next target;
- the price is located between 61.8% Fibo support level at 1.1152 and Fibo resistance level at 1.1713;
- RSI indicator is estimating the local uptrend as a bear market rally.
If the price will break 61.8% Fibo
support level at 1.1152 so the bearish market condition will be continuing to be out of ranging zone.
If the price will break Fibo resistance level at 1.1713 from below to above so secondary rally within the primary bearish will be started.
If not so the price will be ranging between the levels.
Trend:
