EUR/USD Forecast October 17, 2012, Technical Analysis

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

The EUR/USD pair skyrocketed during the session on Tuesday as rumors of a Spanish bailout hit the markets again. With this being said, it does look like the pair wants to go much higher. There is a taunt of noise between 1.30 and 1.35, and as such we have been a bit leery of going long this particular market. However, there is actually nothing to stop a trader from going long the Euro against many other currencies out there, especially the Japanese yen.

While the look of the market is very firm and supportive, the fact is that there are many headlines out there that could push this market much lower. In fact, if the Spanish bailout doesn’t come, you can bet this market will shed 500 points before you can blink an eye. With this in mind, we are a bit suspicious, but must admit this pair does look bullish.

 

EUR/USD Forecast October 17, 2012, Technical Analysis

EUR/USD Forecast October 17, 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Your email address will not be published.