EUR/USD forecast for the week of October 8, 2012, Technical Analysis

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The EUR/USD pair rose over the last five sessions as we got above the 1.30 level. The recent action is very bullish, but we are starting run into very significant resistance going all the way to the 1.35 handle. Because of this, although this pair does look like it’s trying to rise in value, we expect a real fight over the next 500 pips or so. With this in mind, we actually do not want to be involved to the upside in this market. In fact, we are looking for resistive candles if they come in order to short this market over the longer-term. If they don’t show up, we are perfectly comfortable staying out.

 

EUR/USD forecast for the week of October 8, 2012, Technical Analysis

EUR/USD forecast for the week of October 8, 2012, Technical Analysis

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
About:FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.