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EURUSD Technical Analysis For 22nd October 2015

22 October 2015, EUR/USD

EURUSD Technical Analysis For 22nd October 2015

Technical view:

EURUSD is currently trading with a bearish bias. The pair bounced off from a very significant key resistive level 1.1360 and is currently headed short, We anticipate further downward movements following the previous day's exhaustion candle, The entire yesterday's candle was an exhaustion. This downward movement is supported by the fact that, other positively correlated pairs such as AUD/JPY and EUR/JPY are all giving short signals. Thus short positions will be ideal for today's trades.
Trade Recommendations:
As long as the pair trades below 1.1351, short positions will be ideal for trading but with stops at 1.1293, and the next stop at 1.1254.
Graham Osano
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