EUR/USD Price Outlook: Euro Sell-off Intensifies– Support In View

Euro broke below October opening-range yesterday and keeps the focus on a late-month low in the single currency. Today’s post-ECB decline is now approaching key support targets and puts the broader short-bias at risk into these levels. Here are the updated targets and invalidation levels that matter on the EUR/USD charts.

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EUR/USD Daily Price Chart

EUR/USD Daily Price Chart

Technical Outlook: In last week’s EUR/USD Price Outlook, our ‘bottom line’ cited that Euro was, “approaching near-term resistance targets which could see prices pullback a bit. From a trading standpoint, look for possible price exhaustion on a rally into 1.1617/27 – the trade remains constructive while above 1.15…” Price registered a high at 1.1622 the following day with the subsequent reversal breaking below the October Article source: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/scalping_report/2018/10/25/EURUSD-Price-Outlook-Euro-Sell-off-Intensifies-Support-In-View-Euro-Technical-Chart-Forecast-post-ECB-MBCS.html