[B]DAILY MARKET OUTLOOK[/B]
Update Time: [B]05 Nov 2015[/B] [I]01:28 GMT[/I]
[B]EUR/USD - 1.0870[/B]
Despite the single currency’s strong rebound from last Wednesday’s low at 1.0896 to as high as 1.1073 last Friday, subsequent sharp selloff and breach of said lower level to 1.0844 yesterday on hawkish comments from Fed’s Yellen signals recent erratic decline from 1.1715 has once again resumed and consolidation with downside bias would be seen for weakness towards 1.0808/10, however, loss of momentum would keep price above 1.0774, yield correction.
On the upside, only above resistance at 1.1030 would indicate the pullback from 1.1073 has ended and turn outlook bullish for a re-test of 1.1073, break, 1.1096.