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EURUSD Technical Analysis For 19th October 2015

19 October 2015, EUR/USD

EURUSD Technical Analysis For 19th October 2015
Technical Analysis:
EUR/USD is currently trading with a bearish bias. The crossed and and successfully closed along a very significant key level 1.1344. Following this downward movement we expect further movements towards the lower side, with stops at 1.1294, and the next stop at 1.1259. This pair is strongly positively correlated to CHF/HKD and EUR/CAD, thus there are expected to move in the same direction, only buy or sell or buy EUR, if all the other positively correlated pairs are giving the same signal.

Trade Recommendations:

Wait for a minor pull back up to 1.1354, then sell with stops at 1.1324, and the next stop at 1.1294. Buy positions are only recommeded above 1.1380, with stop at 1.1405 and the next stop at 1.1440

Graham Osano
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