EUR/USD Forecast October 11, 2012, Technical Analysis

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The EUR/USD fell on Wednesday in order to fall and test a trend line. We also are right at the 1.2850 level, and this is an area that we have pointed out as a possible selling signal. With all this being said, we think that a move below 1.28 will have this pair looking for the 1.25 level before it’s all said and done.

With the problems in Europe seemingly going on forever, it would not be a surprise all the see this market pullback down to the 1.25 level before finding serious support. Quite simply, the market is more than likely growing bored waiting for the European finance ministers to do something.

 

EUR/USD Forecast October 11, 2012, Technical Analysis

EUR/USD Forecast October 11, 2012, Technical Analysis

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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.

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