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EUR/USD Technical Analysis For 13th October 2015

13 October 2015, EUR/USD

EUR/USD Technical Analysis For 13th October 2015
Technical View:
EUR/USD is currently trading with a bullish bias. the pair traded long for the better parts of yesterday's intraday but failed to close above the key level 1.1379. It is anticipated that as long as the pair trades below this key level, short positions will be ideal for trading, this downward movements is highly likely since the intraday day stochastic is also currently trading below 50 but above 20 levels. Alternative, if the price should close above 1.1394, then long positions should be ideal for trading. This pair is strongly positively correlated to EUR/JPY, and CHF/JPY, thus only buy or sell it if all the other positively correlated pairs are giving the same signal.

Trade Recommendations:

Wait for the current pullback to close at 1.1379, then sell the pair with stops at1.1324, and the next stop at 1.1294. Should you buy above 1.1394, then you should have your stops at 1.1441, and the next stop at 1.1556.

Graham Osano
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