Technical analysis for EUR/USD for October 31, 2018

EUR/USD is back at the August lows as expected. Trend remains bearish. Price only moved lower today. This bearish trend is expected to last for a couple of sessions still. I expect EUR/USD below 1.13. But bears should also be cautious and protect their gains.

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Black dots - medium strength resistance

Red dots - maximum strength resistance

EUR/USD remains in a bearish trend as long as price is below 1.1460. Taking profits below 1.13 is advised for bears or lowering their stops. We have bullish divergence signals that should not be ignored. The pair might still be in a bearish trend but I expect this to change over the coming weeks and a big rally to follow.

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