DAILY MARKET OUTLOOK Update Time: 19 Oct 2015 01:15 GMT
EUR/USD - 1.1375
Despite Thursday's rise above Wednesday's high at 1.1489 to 1.1495, subsequent selloff to suggests the erratic upmove from September's trough at 1.1087 has formed a temporary top there and consolidation with downside bias would be seen for a stronger retracement towards 1.1319 (previous resistance, now support).
However, loss of near term momentum would keep price above 1.1296 and yield a much-needed correction early next week.
On the upside, only above 1.1460 would confirm aforesaid pullback has ended and turn outlook bullish for a re-test of 1.1495, break, 1.1510/20.
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