EUR/USD Daily Chart Analysis For Week of Oct 27, 2023
Technical Analysis and Outlook:
As projected, the Eurodollar completed our Inner Currency Rally of 1.070 and retracted to the designated price target Mean Sup 1.053. The intermediate price action suggests the continuation of the Reignited Pivotal Down Move to retest Key Sup 1.047 and completed Outer Currency Dip 1.045 with an extension on the horizon of Next Outer Currency Dip 1.035. Rebound to Mean Res 1.060 is a possibility.
As projected, the Eurodollar completed our Inner Currency Rally of 1.070 and retracted to the designated price target Mean Sup 1.053. The intermediate price action suggests the continuation of the Reignited Pivotal Down Move to retest Key Sup 1.047 and completed Outer Currency Dip 1.045 with an extension on the horizon of Next Outer Currency Dip 1.035. Rebound to Mean Res 1.060 is a possibility.
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