07 Oct

EURUSD signs of break down trend Resistance at 1.1283

admin Forex Technical outlook 0 Comments

The Fiber signs of break down trend resistance at 1.1283. Morning hitting the Resistance after the BOJ Monetary Policy Statement.

On the upside, After the very poor US Non-Farm Employment Change data, I expect Fiber will break down trend resistance today. If break this area looking for the next resistance area at last friday market high 1.1318 range, next level resistance nearby round number 1.1393.

On the downside, first we want to break downside support nearby at 1.1200, i think right now less chance for break this area, Because, after the poor US Non-Farm Employment Change data has changed the US rate hike forecast Dec'2015 into Q1 2016.

i recommended to BUY when market comes low.

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