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EUR/USD Technical Analysis For 7th October 2015

EUR/USD Technical Analysis For 7th October 2015 | 07 October 2015

07 October 2015, EUR/USD

EUR/USD Technical Analysis For 7th October 2015
Technical View:
EUR/USD is currently trading with a slight Bearish bias. The pair bounced off from the support trend line at 1.1168 and ended up closing above it. As long as the pair trades above this level, EUR is expected to trade on the higher ranges. Any clear movements below the support trendline will signal further movements to the lower side. EUR/USD is strongly positively correlated to EUR/JPY, and EUR/CAD, thus they are expected to move in the same direction even during this intraday.

Trade Recommendations:

Buy along the support trend line. Alternatively wait and buy above 1.1318 with stops at 1.1385, and the next stop at 1.1445

Bob Stan
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