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EUR/USD Forecast October 8, 2014, Technical Analysis

By:
Christopher Lewis
Updated: Aug 24, 2015, 23:00 UTC

The EUR/USD pair initially tried to fall during the session on Tuesday, but turned back around in order to form a somewhat positive candle. We are

EUR/USD Forecast October 8, 2014, Technical Analysis

The EUR/USD pair initially tried to fall during the session on Tuesday, but turned back around in order to form a somewhat positive candle. We are pressing against the 1.27 level, so we could get a little bit of a break out here, but we feel that the 1.28 level is much more resistive, and will take quite a bit more strength to get above. Quite simply, we are waiting for some type of move higher with a resistant candle being printed. If we get that, we are more than willing to start selling yet again.

 

EUR/USD Forecast October 8, 2014, Technical Analysis
EUR/USD Forecast October 8, 2014, Technical Analysis

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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