Forex Technical Chart Update – EURUSD WC 22nd October

October 21, 2012 1:13 am in Forex Analysis

EURUSD Technical Update - WC 22nd October

Our EURUSD analysis update last week highlighted a bullish engulfing candle, coming off the 200 period daily SMA at 1.2820.

The EURUSD has subsequently moved over 180 pips higher after breaking above the candle high and then through the 1.30 handle. The upside move ran through until Thursday which had the key currency pair lose momentum and form an inside day. The inside day has now broken lower and hit interim ascending trend line support on Friday.

We will be monitoring the price action around 1.3000 in the near term to gain a directional bias on the EURUSD.

Tags: eur/usd

← The Week Ahead: GBPUSD

AUDUSD Technical Update WC 22nd to October →

Author Info

forexfx4x
Forex FX 4X is a blog from the UK covering the Forex market. We bring you regular updates featuring the following posts: tutorials, weekly and daily forex, gold technical analysis, forex software information/reviews, market sentiment updates and anything else of interest related to Forex. email: forexfx4x (at) gmail (dot) com Any news, opinion, analysis, price quote or any other information should be taken as general market commentary only and not as advice to trade on. Omissions and errors may occur.

Contributor Contact, Accountability and Policies