EUR/USD Forecast October 9, 2012, Technical Analysis

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By FX Empire Analyst - Christopher Lewis
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The EUR/USD pair fell during the session on Monday as the 1.30 level proved to be too rich for the currency pair. However, we do have an uptrend line just below, and it should continue to support this pair. Nonetheless, we must admit the fact that we could possibly be forming a lower high. We will confirm as if we managed to break down below the 1.2850 level. If that happens, we would become aggressively short. As for buying this pair, we aren't as enthusiastic about as we think there is a taunt of resistance all the way to the 1.35 handle.

EUR/USD Forecast October 9, 2012, Technical Analysis

EUR/USD Forecast October 9, 2012, Technical Analysis

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