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EURUSD Technical Analysis For 23rd October 2015

23 October 2015, EUR/USD

EURUSD Technical Analysis For 23rd October 2015
Technical View:
EUR/USD is currently trading with a bearish bias. The pair traded short as previously forecatsed and even reached a key support trend line. We are waiting for a clear movements below this trend line before we continue short. However, we expect further downward movements. This downward movement is highly anticipated since other positively correlated pairs such as CHF/JPY and EUR/CAD are giving perfect downward movement signals.

Trade Recommendations:

Remain flat for now, but wait for a clear break below the support trendline, then sell but with stops at 1.10071, and the next stop at 1.092

Graham Osano
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