EUR/ USD – 22 Day EMA Support In Action

October 8, 2012 in Forex Analysis

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Again as the hourly chart we posted in the previous post which was near ideal or should we say “Ideal” example of the 5-Hourly EMA resistance in action with the¬†Hollywood efficiency, here is the daily chart of EUR/USD with the equally good efficiency of 22-Day EMA support:

EUR/USD Daily Chart (Oct 8, 2012)

 

EURUSD 22 day EMA Support

EUR/USD Outlook

 

A break should certainly become a diving instructor for EUR/USD to guiede it to some more deeper levels (may be 1.2930?) but then we need to wait to see if the currency pair cuts below those waters or not.

Overall, sooner or later some deeper moves are expected (by your sincerely:))

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