Consolidating; upside bias | 15 October 2013
15 October 2013, EUR/USD
Despite the lengthy sideways consolidation of the last 3 weeks EUR/USD is still overall in a short-term up-trend, which will eventually probably continue. The recent break higher above the down-sloping trend-line was a recovery sign, however, it has run out of steam before reaching its 1.3655 target. There has now been a pull-back and we could get a deeper correction, even to as low as 1.3505 perhaps. However there is an up-side bias with prices expected to troll higher and eventually reach 1.3655.
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.
