EURUSD analysis 10/29/2016

EURUSD analysis 10/29/2016

29 October 2016, 18:20
Levi Nwodo
0
69
Last week EURUSD traded within the range of 1.0850 and 1.0991 which is in the neighborhood of 140 pips. The pair which did some retreat at first to 1.0850 around our PL area the previous low, began an upward move, creating a path for itself upwards to PH previous high before the week end high. eventually the pair ended  the week in an uptrend, making a higher high i.e price moving from PH to H, the latest high before the weekend. Also the price made substantial higher low from PL area to L area in the price chart. From the out look the price might be making a retreat and i will be recommending a buy with a continuation from around the 1.0920 - 1.0904 area which happens to be our 50% - 61.8% Fibonacci retracement of 1.0850 - 1.0991 upmove. Watch out for continuation in that area.         
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