FX.co ★ EURUSD technical analysis for October 28

After a rally of aggressive euro purchasing yesterday, the price is ready to start correction. The price reached 1.4221 level (26.6 level of Fibonacci long-term correction). At present most factors are more likely to be pointing at beginning price reverse. In case of a reverse start (it is already starting now in fact) we can regard 1.3912 level as the closest target (50 level of Fibonacci mid-term correction). However, it should be remembered that 1.3912 level will be preceded by SAR 1.3977 level.
The price reverse is now confirmed by the oscillators in the day chart. In particular, yesterday the Stochastic oscillator made a crossing between %К и %D lines and is now about to leave the overboughtness zone to enter the neutral one. The analogous situation is shown by the Williams %R Indicator.