EURUSD: Weekly Forecast 7th- 11th October 2019
EURUSD turned out as expected of my previous forecast as it started to range after the retracement from the new low.
The repeating pattern shows that the price is expected to range in the coming week.
Traders can look out for a selling opportunity at the top of the range, stop loss placed just above 1.1020.
However, the distinct difference between the current pattern and the previous two is that the current one is trading at the bottom of the range.
This could mean a potential reversal may take place thus taking partial profit at the demand zone around 1.0920 is highly recommended.
The repeating pattern shows that the price is expected to range in the coming week.
Traders can look out for a selling opportunity at the top of the range, stop loss placed just above 1.1020.
However, the distinct difference between the current pattern and the previous two is that the current one is trading at the bottom of the range.
This could mean a potential reversal may take place thus taking partial profit at the demand zone around 1.0920 is highly recommended.
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