Weekly Technical Analysis Report 26 Oct – Bearish outlook on EURUSD
October 26, 2023
Weekly Technical Analysis Report 26 Oct – Bearish outlook on EURUSD
1. This week’s outlook on EURUSD: Bearish outlook seen
On the H4 timeframe, price has recently broken out of an ascending trendline. A pullback to the key resistance level at 1.0600, which coincides with the 38.2% fibonacci retracement, could provide the bearish acceleration towards the next key support level at 1.0450, which is in line with the 141.4% fibonacci extension. Price is hovering below 20 EMA, supporting our bearish bias.
Bearish Outlook on EURUSD – 26th October by Salzworth on TradingView.com
