EURUSD Technical Analysis For 21st October 2015 | 21 اكتوبر 2015

21 اكتوبر 2015, EUR/USD

Technical view:

EUR/USD is currently trading with a bearish bias. the pair traded short but could not hit a key pivot line 1.1294. We still expect further downward movements to the pivot 1.1294, or even below to 1.1259. Right now, we look for a clear break and close below 1.1346 before we can fully go short. This pair is strongly positively correlated to EUR/GBP, and EUR/CAD, thus they are expected to move in a similar direction, only buy or sell Euros if the other positively correlated pairs are giving the same signal.

Trade Recommendations:

Sell below 1.1346, with stops at 1.1294, and 1.1259. Buy above 1.1386, with stops at 1.1438, and the next stop at 1.1479

The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.

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Bob Stan

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