(16 OCTOBER 2017)EUR / USD:Increasing selling pressures.
16 October 2017, 13:34
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Increasing selling pressures.
(Yann Quelenn )
• EUR/USD momentum is reversing since the pair has set up an hourly resistance at 1.1878 (12/10/2017 high). Strong support is given at a distance at 1.1662 (17/08/2017 low). Expected to show some short-term consolidation. • In the longer term, the momentum is now turning largely positive. We favour a continued bullish bias. Key resistance is holding at 1.2252 (25/12/2014 high) while strong support lies at 1.0341 (03/01/2017 low).
