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EUR/USD Mid-Session Technical Analysis for October 15, 2014

By:
James Hyerczyk
Updated: Aug 25, 2015, 01:00 UTC

Daily EUR/USD Technical Analysis The EUR/USD is trading sharply higher at the mid-session after spiking to the upside earlier in the session. Support at

Daily EUR/USD

Daily EUR/USD Technical Analysis

Daily EUR/USD
Daily EUR/USD

The EUR/USD is trading sharply higher at the mid-session after spiking to the upside earlier in the session.

Support at this time is a minor 50% level at 1.2747, followed by an uptrending Gann angle at 1.2952 and today’s low at 1.2624.

On the upside, resistance comes in at 1.2952, followed by a Fibonacci level at 1.2805.

Earlier in the session, the market took out an uptrending angle at 1.2820 on its way to 1.2886, but could not establish support at this level. Crossing back over 1.2820 will put the market in a strong position later in the session.

If traders can overcome 1.2886 then look for a drive into a long-term downtrending angle at 1.2952.

The main range is 1.3432 to 1.2500, making its retracement zone at 1.2966 to 1.3076 the best upside target.

The tone of the session into the close will be determined by trader reaction to the retracement zone at 1.2747 to 1.2805. A failure to hold 1.2747 will trigger weakness into the close while a sustained move over 1.2805 will be bullish.

Hourly EUR/USD Technical Analysis

Hourly EUR/USD
Hourly EUR/USD

The main trend turned up on the hourly chart when the EUR/USD crossed to the swing top at 1.2669. This triggered a tremendous surge to 1.2886.

The new short-term range is 1.2637 to 1.2886. The retracement zone of this range at 1.2761 to 1.2732 is currently being tested. Since the trend is up, buyers may come in to support the market inside this zone.

If using the hourly chart for your trend indicator then trader reaction at this retracement zone will set the tone into the close.

Holding above 1.2761 will likely lead to a strong close while a sustained move under 1.2732 will lead to a weak close. 

About the Author

James is a Florida-based technical analyst, market researcher, educator and trader with 35+ years of experience. He is an expert in the area of patterns, price and time analysis as it applies to futures, Forex, and stocks.

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