Monday, October 15, 2012

EUR/USD 1H Chart Channel Up - October 15, 2012

EUR/USD 1H Chart Channel Up - October 15, 2012


EUR/USD has formed a Channel Up pattern on 1H chart. The pattern has 54% quality and 67% magnitude in the 60-bar period.
The pattern started when the pair rebounded from pattern's resistance at  1.2914; currently it is trading at daily pivot (PP) at 1.2959. 
Technical indicators on aggregate point at appreciation of the pair on 1H and 1D horizons suggesting that pair will continue to follow pattern's, upward sloping trend. Read more