Analysis and forecasts for EUR / USD 05/11/15

FX:EURUSD   Euro / U.S. Dollar
The outlook for EUR / USD:
The supply side stopped at the area between 1,0847-54 support levels. The proximity of major support at 1,0808-10 and strong oversold in the short term should enable the demand side. Demand side should attempt to defend aids, which will put the counterattack towards the 1.0896 level. Then, the supply should take the lead and head towards levels of 1.0844 and 1,0808-10. After breaking past support opens the way to lower price levels. The aim seems to be this year's low of 1.0460.

In an alternative version the supply side will lead to the first level test 1,0808-10, which should be defended by demand. Subsequently, the demand side should put the counterattack and bring to bear part of the recent declines.

In a broader horizon still apply downward trend.
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