Weekly Technical Analysis Report 1 November – Bullish outlook seen on EURUSD
Weekly Technical Analysis Report 1 November – Bullish Outlook Seen On EURUSD
1. This week’s outlook on EURUSD: Bullish outlook seen
On the H4 time frame, prices are approaching the support zone at 0.98500, which coincides with the 50% Fibonacci retracement and 61.8% Fibonacci extension level. We could see further upside above this zone to the next resistance zone at 1.0080. This resistance zone coincides with the 50% Fibonacci extension level. Prices are holding above the Ichimoku cloud as well, supporting the bullish bias.