EUR/USD Forecast October 25, 2012, Technical Analysis

By FX Empire Analyst - Christopher Lewis
Font Size
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The EUR/USD pair fell during most of the session, but bounced off of the 1.2950 area in order to form a hammer for the trading day. This does look rather bullish, but we have trouble thinking that this market will suddenly smash through the 1.3150 level. We simply think that this is a potential return to that level, but it does of course offer trading opportunities for those of you who are shorter-term traders.

In order to start selling, we would need to see a breaking of the bottom of Wednesday's range, or even more importantly the 1.28 level. At that point time, we would think that the momentum will have died for the buyers, and we would not only start selling, but would start selling aggressively.


EUR/USD Forecast October 25, 2012, Technical Analysis

EUR/USD Forecast October 25, 2012, Technical Analysis

Want to read more articles like this one?

Get the latest fundamental analysis, technical analyses and the most up-to-date news catered to your interests, everyday.

* Please enter a valid email

Activation link was sent

An activation link has been sent to your E-mail.
You will start getting emails only after activating your account.

Find a Broker
Continue to FX Empire Network