Eurusd october 23th 2018 analysis
During the trading on Monday, EURUSD was weakened. The news on BREXIT and the Italian budget crisis caused the EURUSD to fall below the 1.5-strong resistance level of 1.1542 and fall below 1.15 USD. As you can see, the Rand rate of $ 1.15 did not stand much against sales pressures.
From the technical point of view and the analysis of price movements, maybe long-term EURUSD buyers have not yet entered the market. The weekly chart of EURUSD is located at the upper end of the weekly demand zone of 1.14545-1.1312 and may leap to the resistance zone of 1.1862-1.1717. This resistance zone has been blocking the upside since early 2018. On the EURUSD daily chart, there is support for 1.1462, with market replies backing this support back to early 2015. Although this support has a bleak situation, there is a possibility of a bullish return from this level. Such a bullish return could push the EURUSD to a high of October 16 in 1621 and a daily resistance of 1723.1. This daily resistance is located at the bottom of the weekly resistance zone.
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Price action strategy
The support for the four-hour dipped floor at 1,143 is the next downside target of the EURUSD’s quarterly chart, with a slight gap with the demand area at 1.1423-1.1394. The fake breakdown of the twin foam support and EURUSD collision into demand zone (in the form of a four-hour bullish pins) can be enough to enter the EURUSD purchase deal. In this case, you can enter the EURUSD purchase deal at a rate of R $ 1.15.