1 November EUR/USD outlook

Bullish trend was indicated on both MACD and Stochastic oscillators on Tuesday, October 30th. It is hard to determine the long term trend because a “Gravestone” candle was formed on daily timeframe on October 31st, which is considered to be a bearish signal. Traders should also take into account that the pair is very sensitive to fundamental factors. Currently the pair stands on the following critical levels: R2- 1.3051 R1- 1.3008 P- 1.2976 S1- 1.2933 S2- 1.2903 As long as the pair stands below the daily pivot at 1.2976, the pair stands on bearish bias down to 1.2860. However breaking above 1.2976 traders could expect targets towards 1.3081 level. R=Resistance P= Daily Pivot S= Support