23.10.201809:06 Forex Analysis & Reviews: Technical analysis of EUR/USD for October 23, 2018

Long-term review

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EUR/USD has pulled back towards the critical short-term support of 1.1440-1.1430. Price is bouncing once again from this area and bulls do not want to see this support broken. If this happens, we should expect prices to see below 1.14-1.1350.

Blue rectangle - support

Purple line - short-term resistance

Bulls want to break above the purple resistance trend line. Resistance is now at 1.1530. Breaking above it will open the way for a move towards 1.16 and higher. Breaking below the blue rectangle support area will open the way for a move towards 1.13-1.12. We remain bearish as long as price is below 1.1820.

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