EURUSD intraday technical analysis - 19/10/2018

EURUSD

1.14604 / 1.14608

SUMMARY

Down

TREND

Upward penetration

SENTIMENT

Bullish

VOLATILITY

Medium

MARKET ANALYSIS

Upwards scenario: EURUSD remains downwards oriented, however we expect some correction ahead. Loss of resistance at 1.1489 (R1) could be considered as signal of such. Higher targets locates at 1.1526 (R2) and 1.1566 (R3).
Downwards scenario: On the other side, extension lower the next support level at 1.1448 (S1) is being able to initiate new step of downside expansion and drive market price towards to our initial targets at 1.1413 (S2) and 1.1378 (S3).

Resistance levels: 1.1489, 1.1526, 1.1566

Support levels: 1.1448, 1.1413, 1.1378