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EUR/USD Technical Analysis For 8th October 2015

08 October 2015, EUR/USD

EUR/USD Technical Analysis For 8th October 2015
Technical View:
EUR/USD is currently trading with a slight Bullish Bias. The pair crossed below a key zone 1.1265 and 1.1259, and is currently trading below it. we are waiting for a clear break above 1.1295 before long positions can fully be recommended. It is anticipated that, as long as the pair trades below 1.1259, short positions are ideal for trading but with stops at the support trend line, and the next stops at1.11057. Any clear movements below 1.1089 will signal further movements to the lower side. EUR is strong positively correlated to EUR/JPY, and EUR/HKD, thus, only buy or sell EUR if all the other positively correlated pairs are giving the same signal.

Trade Recommendations:

As long as the pair trades below 1.1259, short positions are ideal for trading but with stops at the support trend line, and the next stops at1.11057. Any clear movements below 1.1089 will signal further movements to the lower side.

Graham Osano
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