Price rising; short-term trend down | 17 Oktober 2013
17 Oktober 2013, EUR/USD
EUR/USD continues to consolidate in a range, with a short-term bearish bias, but a mid-term bullish bias. Currently price has just broken above its 45° trend-line and fixed an up-count target at 1.3685, however, I have placed this in square brackets because it runs contrary to the short-term trend. A break above the turquoise discretionary trend-line at 1.3570 would, however, add more confirmation, bolstering hope that the move higher could meet its target.
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.
