AdaptiveForexTrading

EURUSD ~ Zones of Support and Resistance Update 10/28/15

FX:EURUSD   Euro Fx/U.S. Dollar
68 0 1
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Update 10/28/2015

Technical

The Euro             was rejected from the 1st Zone of Resistance and has broken down below the 1st Zone of Support.
The next hurdle is the long term bullish trend line following the 2nd Zone of Support (1.084 to 1.080).

The chart has been revised as follows.
• Added Rejection Points for Each Zone of Support and Resistance .
• 1st Zone of Support has been revised to 1st Zone of Resistance.
• 2nd Zone of Support has been revised to 1st Zone of Support

Zones of Support
1st: 1.084 to 1.080

Zones of Resistance
1st : 1.013
2nd: 1.1158 to 1.1085
3rd: 1.136 to 1.139
4th: 1.147 to 1.149
5th: 1.171

Review the original Zones of Support and Resistance posted on 10/12/2015. It is interesting to see how the price reacted to each Zone in lower time frames.


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Update 10/25/2015

Technicals

The chart has been corrected to reflect what I see as the current conditions. The pennant and intermediate bullish channel has been deleted.

A bearish channel has been added. The top line was cloned and lowered to another high and the first break down low. This may offer support and is estimated.

The Zones of Support and Resistance has changed as follows.

Zone of Support
1st: Minor Support at 1.013 (The price is currently just below that)
2nd: 1.084 to 1.080

Zone of Resistance
1st: 1.1158 to 1.1085
2nd: 1.136 to 1.139
3rd: 1.147 to 1.149
4th: 1.171
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