30 October EUR/USD outlook

Both Stochastic and MACD oscillators are staying flat. However, Stochastic oscillator shows extreme oversold. At the moment long positions on EUR/USD are considered to be preferable. But traders should consider that the pair is very sensitive to fundamental factors. Currently the pair stands on the following critical levels: R2- 1.2960 R1- 1.2934 P- 1.2909 S1- 1.2883 S2- 1.2858 As long as the pair stands above the daily pivot at 1.2909, the pair stands on bullish bias up to 1.2985. However breaking below 1.2909 traders could expect targets towards 1.2832 level. R=Resistance P= Daily Pivot S= Support