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

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By FX Empire Analyst - Christopher Lewis
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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

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